Generally, a credit score of 620 or higher will get the best terms for a…
If you are in the market for a new home, you’ve probably turned to the internet to begin your search. You can learn about neighborhoods, find out about schools, and a lot more using a simple search. Once you are ready to start looking for a home, there are a few simple things to know that will help you decipher a home listing.
Homes are listed on the multiple listing service (MLS). Using a real estate agent in your home search can help you access these listings and see what houses are currently on the market. There are also a lot of other sites online, such as the popular home search platform Zillow, that provide a listing of homes for sale.
Here are a few things you will see in a home listing.
- Bedrooms: Often abbreviated as bd. A studio is commonly listed a 0 bd, but can sometimes pop up as 1 bd.
- Bathrooms: Often abbreviated as ba. Bathrooms with a shower/bath are considered full bathrooms, while ones with just a toilet and sink are considered half baths.
- Square footage: This piece of information can give you an idea of the size of the home.
- Sales price/rent price: This is the current price. Some listing services show if the price has recently increased or decreased.
- Days on the market: This can be helpful once you are ready to make an offer. A home that has been on the market longer sometimes comes with more negotiating room on price or other concessions.
It’s always helpful to talk to a real estate agent when you are searching for a home. They can give you the latest and greatest information, especially those who are experienced and have established relationships with other agents in your community.