North End Tacoma Homes for Sale -7 Things You Should Know

Looking for North-End Tacoma Homes for Sale? It’s a great area to purchase a home but there are some things you should know before making a decision on which home to buy.

So I made a List.

The first 4 are rules you could apply to just about any home purchase. The last 3are very specific to the North End of Tacoma. 

Here we go! 

Purchasing a home in Washington requires a contract with a few very specific deadlines. Understanding this can be crucial to your home buying experience. 

Having a Realtor you can trust on your team can save you alot of frustration.

A couple things to pay attention to are the Earnest Money Deadline and the Inspection Dates.

1. Earnest Money

Something of Value needs to be attached to any offer made on a house or it becomes voidable. In most every case that comes in the form of an good faith deposit or “Earnest Money”. This does 2 things, it keeps people who aren’t really serious about the purchase from putting in contracts and it can make the difference in competing offers.

I recommend a 1% Earnest Money deposit. If you are purchasing a $400,000 home that is $4,000. If you are making an offer on a particularly competitive property you can increase that amount to about 2%, but I would never recommend going over 3%. 

Your earnest money is not an extra cost and will be applied to your closing costs as down payment upon mutual acceptance of the offer. 

After submitting an offer you have 2 business days to deposit the earnest money into an escrow account. 

After mutual acceptance , If the contract is broken by the purchaser, there are guidelines regarding who the earnest money is released to. 

2. Inspection Contingency

When submitting an offer, the inspection contingency is there to make sure there are no surprises. The inspection can be waived , but I wouldn’t recommend it unless you have some very unusual circumstances. 

The standard timeline for an inspection offer is 5-10 business days and is completed by a licensed inspector of the buyer’s choosing. 

If the inspection report is not submitted in accordance with the timeline, the seller can void the contract. 

Also, Your home inspection will find problems, no matter what. It’s up to you to determine what is a deal breaker. This will allow you to negotiate for lower costs or to have those fixed before you agree to purchase the home.

Remember that putting an offer on a house is a potential contract, be prepared to abide by the guidelines set forth in that contract. 

3. Don’t rely on the mortgage lender to tell you what you can afford.

 They will tell you what you are allowed to borrow. Take the time and do your due diligence to determine what you can afford according to your finances. 

It’s also wise to factor in a budget for taxes, maintenance , insurance and possible homeowner association fees. 

Buying  a house is smart if you are going to be in the same place for at least 5 years and it’s in an area where you’ll be able to sell the property without taking a loss. The idea is to build equity. If these factors are ignored, you may end up losing value on the deal. 

4. Most Houses won’t be Perfect.

Unless you are planning a move to a brand new home, they are often owner occupied or recently vacated by someone who is going through the challenge of moving into a new place themselves. 

This will often leave some imperfections like rooms that need to be painted or old carpet. There can also be some junk that has been left behind or some dirty and dusty parts of the house. 

These are pretty easy fixes and are often the reason why people choose not to make offers. Which means less competition.

This is good for you, If you can see past these tiny imperfections. 

5. The Community

This is a tough category to rank, because it is all subjective, but the general consensus from sites like niche.com the community is very well liked. These are some reviews from people who have lived in the area

“Great little neighborhood, very walkable, beautiful landscaping and relatively safe. My neighbors are all very kind and we all watch out for each other.”

“This is a very beautiful suburban neighborhood with a variety of downtown strips, all with their own character. It feels very safe “

“Tacoma is a great place to live, and it has a lot to offer. I see definite potential in this area of expansion and improvements in lower level neighborhoods. If I could do it over again, I would choose here.”

6. Things to Do in Tacoma

The Tacoma North End is a very lively place to live with an abundance of activities for all ages. Here are a few local favorites

  • Point Defiance Park 
    • This great park is an adventure all to itself. There is a beach as well as 700 acres of woodland trails and an accompanying Zoo and Aquarium
  • Ruston Way Waterfront
    • Ruston Way connects Point Defiance to downtown Tacoma with 2 miles of scenic waterfront. Along the waterfront is Ruston Point, a great new neighborhood with a lively mix of shopping, entertainment and dining. 
  • The Chihuly Glass Walking Tour.
    • World Renowned Glass-Blowing Artist Dale Chihuy has his creations all throughout downtown Tacoma ,including the Bridge of Glass. 

You can learn download a map for the tour here: https://discover.stqry.com/v/walking-tour-of-chihuly-in-tacoma/s/8180aa674c8107e5aa549f6de955fb46

7. Cost of Living in North End Tacoma

The cost of Living here is higher than the Tacoma average by about 19%. You can easily see why as you look at the properties and neighborhoods which are better maintained than the rest of Tacoma. It also boasts some of the top-rated schools in the area including Stadium High School which boasts a 94% graduation rate. Washington State Graduation rate hovers around 81%

If you’d like to learn more about Real Estate in Tacoma Washington. Please go to tim.mcauleyhomes.com