Leasing a home advice

[Chrisada]

Just wanted to poke in to say that I love Grosse Pointe and am super jealous.

Okay, not that jealous b/c I don't want to live that far North, but GP is pretty freakin' sweet...if you have to be in Michigan.

Good luck, all!!

Love,
The eternal renter

Isn't Grosse Pointe the best! I was sad to here we were staying in MI until I saw that we would be moving to Grosse Pointe. I

[Ravenclaw]

What should you say when the realtor asks your price range? I've always been curious about that. Once you tell them your max, will they show you only what's close to it so they get a bigger cut? Should you tell them less than your max?

In my experience, they give listings of houses at all points in your range, and might tuck in a couple that are slightly above if they think there is a deal to be had. They give you LOTS of listings (especially with the "internet tours" available now), and you sift through and tell them which you'd like to see. It's no longer a blind tour.

[oceanchild]

With the market the way it is, realtors are interested in sales. They'll be happy if you buy, even if it's on the cheap end.

[poky]

When we bought our house (12 years ago), we trusted our buyer's agent. Told him what we *wanted* to pay, and he recommended that we get our approval for that amount, rather than "as high as the bank will let us go". Then we only looked at ones under that amount (or *just* above, if he thought the sellers could be talked down). I don't think most decent agents are going to steer you away from something $10K cheaper than your max if it'll mean a sale; that's only a few hundred difference to them, and if it means more hours of working with you to find something more expensive, it's not worth it to them.

Plus, it's not like you can't do online searches and find the cheaper places yourself and say you want to see them.

Watch some "property virgins" (it's a TV show; I think it's on HGTV). Good agents know that buyers are happy when they don't have to spend ALL of their money.

[Ravenclaw]

When we bought our house (12 years ago), we trusted our buyer's agent. Told him what we *wanted* to pay, and he recommended that we get our approval for that amount, rather than "as high as the bank will let us go". Then we only looked at ones under that amount (or *just* above, if he thought the sellers could be talked down). I don't think most decent agents are going to steer you away from something $10K cheaper than your max if it'll mean a sale; that's only a few hundred difference to them, and if it means more hours of working with you to find something more expensive, it's not worth it to them.

Plus, it's not like you can't do online searches and find the cheaper places yourself and say you want to see them.

Watch some "property virgins" (it's a TV show; I think it's on HGTV). Good agents know that buyers are happy when they don't have to spend ALL of their money.

Sorry - I meant for leasing!

[SoonerTexan]

Watch some "property virgins"

Haha, every time I watch that show the couple usually makes a really BAD decision...

[poky]

Haha, every time I watch that show the couple usually makes a really BAD decision...

Heh. Yeah, sometimes, though most of the ones I've seen have seemed reasonable. We don't get anywhere near all the information that they have, on the show, and a lot of which house is right for you depends on YOUR preferences. Some of the couples definitely didn't have MY preferences, but for their stated preferences, they probably made the right choice.

[MrsK]

I haven't read others' replies so please excuse me if I'm redundant.

Find out if there are property management companies in your city. Then go through the management companies. They will show you various properties and will have their act together regarding landlord/tenant responsiblities, maintenance, etc.

We found a rental on Craigslist and landed with the Stupid Evil Landlords that made our lives miserable. It was especially rough because they didn't know what they were doing. Also, when looking for rentals on Craigslist, we found a lot of houses for rent that were being foreclosed. Not a good situation.

We are renting our home in a great neighborhood of suburbs of Detroit. We couldn't sell it because we owed too much on it so we are renting. We are renting it for $1300 and are not making any money it. In fact, we are losing $600/month. I don't think that people renting for 1200 are trying to make money. They're probably just trying to get by.

Also, we used craigslist and are good landlords. We treat our tenants very well. Its important to read your lease very closely and make sure that it fits your situation. If you don't want the landlords coming in without notice, it should say that in the lease. The lease can be there to protect the homeowner and the renter.

Congrats on moving to Gross Point! I hope it all works out well for you.