Advice please.?
Answer:
A ton of paperwork will have to be filed, they will lose all of it and you will have to send it in a couple of times, keep copies of everything you sent in
keep an open mind, find out everythign u can about the home before u make your decision. it is to bigo a decision to make and have the chance of messing up
make sure you stay in your budget
be sure to get a building inspection report and a bug /termite inspeciton report.
#1= HAVE GOOD CREDIT..
rent to own or compare interest rates
uhmm.. you consider the place, the location, the weather, the surroundings and the most important is the neighborhood
Decide what you can afford for a house payment, including your homeowner's insurance, and real estate taxes. Get pre-approved and stick within YOUR budget.
i think you only live one time and i think it you got the $$ to do it i think you need to do it its fun having your own home
Get a fixed rate mortgage.
Don't buy a house coz it's cheaper, you have to consider the potential for resale a couple years later, so location makes a big difference in this case, also, unless it's a new home, otherwise check EVERY corner of the house. I bought my first home last year and after i moved in i found out that those basterds b4 me have been using the space behind the washer and dryer as their hidden dumsper, half eaten hot dogs, baby diaper. etc. and also check all the electric outlets to see if they work, they are expensive to repair ($100 each)
be cautious with the life of the house...
be aware of the taxes, water, etc..before.
be aware of the area and the jurisdiction rules.
be confident and assured of the plan..
be sure of the expenses and the future requirements.
be sure of your funds..
be sure of your family's interest..
be sure of the contractor. or the products being used for constructing.
do not over see any small item. starting from paints, varnishes.and the steel quality.
Make a list of things you must have, and things you're willing to make concessions about. For example, do you want a big kitchen? Do you need a yard? Do you need a lot of privacy?
I know you said just one, but here's another: See lots of properties. A good realtor will send you out to look at homes over and under your price range, so you get an idea of what's available for what you can afford.
I looked at about 20 houses before I found my dream house.
Does the roof leak did you go up there with a light an look? look in the eves. are the ceilings fresh painted in the house..go up stairs an look pay the $500 have a appraiser look for you at every thing
People always say, "get the biggest house you can afford." I don't know if that's true. You should get a house that's well within your budget because having a house means that you have to pay for every little thing that goes wrong. Here's a practical tip, the insurance that they try to sell you, household insurance that pays for when appliances break down or something, is a good idea. It's like $300 per year, and it pays for people to come out and fix just about anything that goes wrong. This is different from regular homeowner's insurance.
For first time buyers there are fantastic loans out there. Very little down and great payments! Keep an open mind..if you don't mind doing all your own improvements and creating your sweat equity than forclosures can be great! You can get a great deal and it is a blast to CREATE your home yourself! My husband and I bought a forclosure and the gal who left took EVERYTHING...even the knobs on the cabinets...the doorbell..and the shower door. We put in the flooring and made a cool countertop ourselves with slate and abalone...an ocean themed bathroom. You don't get to do that in your regular track home. Have fun!
Consider the weather?
Gawd.
Don't be anxious. Take your time.
DETERMINE YOUR RIGHTS-be sure you understand your rights as a homebuyer.knowing the process of buying a house prevents you from getting scammed.seek a knowledgeable person,a licensed real estate or a broker,it helps a lot.goodluck!
Find a nice patient real estate agent. My agent showed me every house for sale in town, and nothing in my price range was good enough. After a month she was really getting frustrated and said I have one more house I will show you, and after that I am done. I am like OK. another house I wont like.
Walked into a huge three season porch. the living room had a huge fire place with hardwood floors. the dining room and bedrooms had hardwood floors. another porch on back. An upstairs finished loft with hard wood floors and huge windows to let the sun in. In less then five minutes I said I will take it.
The people were eager to sell and had not yet had he Realtor put up a sign. They let it go for thirty thousand less then the appraisal price. Nice big corner lot.
A Realtor can make all the difference.
location, location, location.
Do lots of online research
Pay off your debt
Save at least 20% for down payment
The mortgage companies will tell you how much house you can afford. Don't get the maximum mortgage that they tell you that you can qualify for, but instead buy something less expensive. You don't want to stretch your budget to the limit in order to buy a house. It's nice to have a cushion so that you can enjoy the house instead of becoming a slave to the house payment.
In addition, don't get an adjustable rate mortgage! WHEN (not if) the payment goes up, you may have problems making that higher payment.
There are so many other expenses that go along with owning a house besides just the mortgage payment, compared to rent. When you own, you have to pay for all the upkeep and repairs around the property. You'll have to purchase a lawn mower, tools, etc. Your utility bills might be higher in a house, since you have more space. You might need to purchase more furniture to fill that space.
Budget, budget, budget! And stick to it. Also don't forget about closing costs and anything that may come up after you close. I have seen it some many times. Its gets down to the closing and the buyer was not aware that they had to bring money in. It holds up closing and the seller being able to get thier proceeds. Also, find a good mortgage broker, if borrowing and ask as many questions as you feel neccessary. This is the biggest investment most people will make in their lives and they should go in to it with open eyes. Also keep in mind expenses that you may incur after the closing such as furniture, repairs, etc. Just when you've thought of everything, you find out the water heater doesn't work. (happened to me). I would recommend having at least $5000.00 in savings just for unexpecteds after getting settled in. Also be prepared for your first mortgage payment. Alot of people spend so much on setting up house that they usually end up making their first house payment late because they didn't plan. Another good reason to have some extra money saved.
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