New research indicates that Edmond is unaffordable to most households due to the cost of housing there. With its wide array of hotels, restaurants and unique shops as well as stunning public art everywhere you turn in Edmond, most households cannot afford its average housing costs.
If you are in Edmond and looking to purchase a home, the first step should be consulting with a real estate agent. However, if time or resource constraints prevent this option from being utilized, consider working with a company that buys houses instead.
1. Choose a Real Estate Agent
Real estate agents can make all the difference between an exhausting and easy home buying or selling process. They will assist with understanding legalities of transactions and guide you from start to finish. A great agent will be able to provide market statistics, listings and advice in addition to helping find financing, negotiate and close on property for sale or rent that meet both lifestyle needs and budget constraints.
When selecting a real estate agent, be sure to find one with extensive experience in the market you wish to enter. If you are selling, look for one who has sold similar properties before in your neighborhood; additionally consider whether the agent has strong connections with local mortgage lenders and whether or not an experienced real estate agent can negotiate the best possible price on your behalf.
Mandy Apple, a licensed Oklahoma City Realtor with more than two decades of experience working in real estate sales and purchase, provides her clients with a personalized approach and client-centered focus from beginning to end of sales process. She takes great pride in offering this personalized approach as part of her unique service model.
Bill Wilson is an Edmond-area Realtor with extensive experience assisting buyers and sellers of homes. A member of Oklahoma City Metropolitan Board of Realtors, he holds multiple certifications such as Certified New Home Sales Professional and Certified Residential Specialist and also belongs to National Association of Realtors as well as Oklahoma City Regional Board of Realtors.
Edmond is a popular destination for both families and retirees, due to its low crime rate, proximity to health care facilities, excellent schools and vibrant downtown (home of locally-owned shops such as Commonplace Books and Urban Agrarian). Furthermore, residents in Edmond are involved with their community and take pride in living there; Time Money Magazine even recognized Edmond as one of the best places to live in 2016.
2. Get Pre-Approved for a Mortgage
A lender will conduct a pre-approval review, taking into account your debts, income, and credit report to ascertain what size mortgage you qualify for. This step can save you from disappointment by helping determine how much of a mortgage loan is affordable – pre-approval can also be done early on in your home buying journey, giving you time to shop interest rates across various lenders within 45 days, with only one credit check needed from each one!
Doing a pre-approval will show real estate agents, title companies and sellers that you are serious about purchasing a home, so when the perfect house comes along you can act quickly knowing you can compete against other offers. A typical pre-approval letter lasts 60 to 90 days so it is wise to do this as early as possible in your home buying journey.
Once you find the home of your dreams, your realtor will assist in creating an offer that is both competitive and attractive to the seller. Your offer should include details regarding down payments, closing costs, loan interest rate and monthly payments.
Once your offer has been accepted by the seller, it is time for your closing meeting. At this appointment you must bring along your Closing Disclosure document, valid photo identification documents and an initial down payment check. This document details all funds paid by buyers and sellers prior to closing, such as loan amounts, interest rates, mortgage insurance premiums, escrow deposits for property taxes and homeowner’s insurance premiums, as well as any additional fees or costs. Make sure to carefully read this document so there are no surprises, and have your attorney review it to verify all information is accurate and correct. If any queries arise regarding its language, your lender can clarify matters prior to closing on your new home.
3. Find a Home
Edmond offers many neighborhoods to suit varying styles and price ranges for homebuyers looking for their ideal residence. Be it an historic home with character or modern home with updated features; whether it offers space for entertaining, there’s sure to be something suitable. When ready to begin searching, it is crucial that you work with an agent who has experience in Edmond and can narrow down your choices quickly.
One of the easiest and fastest ways to find a home is searching online for properties that meet your criteria, visiting open houses and/or speaking with listing agents about what’s available locally. When you find several matches, compare each side-by-side so that you make the best decision for you and your family.
Finding your home in Edmond is an enjoyable and fulfilling journey. Offering low crime rates, strong employment prospects and top-rated schools – not to mention easy access to downtown Oklahoma City for shopping, dining and entertainment options!
If you’re thinking about selling your Edmond home quickly for cash, cash for houses companies could be the way to go. They buy houses directly for cash so that the transaction can close faster – saving both time and money by forgoing realtors and home showings altogether.
Edmond is an ideal location for families with children due to its highly-rated public schools, boasting top academic standards as well as extracurricular offerings such as music and art classes. Edmond also serves as a cultural hub, hosting local events like Oklahoma Shakespeare Festival and Downtown Edmond Arts Festival, for which tickets must be purchased separately. Furthermore, outdoor enthusiasts will love Edmond with its parks and hiking trails – Arcadia Lake provides ideal conditions for fishing bluegill, largemouth bass and channel catfish species!
4. Make the Offer
If you’re searching for a home in Edmond, there is an array of choices available to you. From luxurious mansions in the suburbs to quick delivery homes in new developments – you have every type of property imaginable at your disposal! Narrow down your search to specific neighborhoods or builders by specifying them; for something on a tight budget try purchasing condo in Edmond.
According to a new study, the cost of new home ownership in Edmond is well beyond most households’ ability to afford, with over half of Edmond households reporting they cannot afford a $300,000 home – an extraordinary change since most people believed that owning their own place was within reach.
Edmond remains an attractive choice for homebuyers despite its higher costs, thanks to its excellent schools and closeness to Oklahoma City. Plus, its low median sale prices offer affordable living.
Edmond has a wide array of activities for residents to enjoy, such as shopping and dining. Edmond’s malls feature stores such as Bed Bath & Beyond, Ross Dress for Less and Famous Footwear; after an exhausting day of browsing these stores you can relax at China Palace or Los Arcos Mexican Grill before returning home to relax further.
Edmond has humid subtropical weather with hot summers and mild winters. Situated within Tornado Alley, Edmond is exposed to frequent severe storms with risk for tornadoes being high.
Edmond has long been home to notable athletes and entertainers, such as professional baseball player Brandon Weeden who attended Edmond Santa Fe High School, as well as Christian band Mercy Me who called Edmond home during their mid-1990s tour.
When purchasing a new home, it is wise to work with an established realtor. A knowledgeable agent will guide the buying process and ensure you’re getting an equitable price for your new place. If working with agents isn’t your cup of tea, consider selling “For Sale By Owner,” which may save time and money by spending extra on advertising but requires more of your attention compared to traditional methods.