These days, it may be to your advantage to buy a home. The interest rates are low, and there many good quality homes on the market. However, with all the problems these days, there are some things you need to be aware of so you not only get the home you want, but are able to pay for it, and have little or no problems soon after moving in. Here are a few really good tips to help you find the right home for you.
Making more money than your expenses is the first step, but lenders have certain guidelines for how much more you need to make. Before you start shopping for a home or the loan to purchase it, you should strive to pay-off bills or cut expenses to a third of your income. Many people believe the initial closing costs and required down payment is all they need to worry about, as long as they feel the payments are affordable. These ratios of expenses-to-income are strong considerations to a lender, who wants assurance of repayment.
Secondly, you really need to shop around for the right home. Make a list of what you are looking in a home before you go house hunting. While you can compromise on some things, make sure you are as close to what you want as you can. If you are planning a family, then make sure you have enough room to grow.
You may have contemplated purchasing a brand new home, but there are others that think about the affordability of an older, existing home. You need to compare unexpected repair expenses of an older home, while a brand new home may be more expensive, initially. At least you are getting newer appliances that save energy and they come with a warranty, when purchasing a newly-built house. You should face the fact of appliance replacement, when comparing an existing house on the market.
Close examination of candidates in the "used" home category is part of making an informed home-buying decision. Careful examination of the major components on a home can help you eliminate those houses that may require expensive repairs. Some defects may not be obvious to the untrained eye.
Some of the other areas to consider are the heating and air conditioning system, the hot water tank, gutters, insulation in the attic. Go around the outside of the property, looking at the foundation. Check for cracks and water damage. Look at the roof, check to see if the roofing tiles and siding are in good condition. Write all these things down, as well as any others you can think of.
If you have found what you're looking for, the next step is the negotiations process. The first thing you need to do is find a good home inspector. The best thing to do is go online to one of those comparison list sites and choose one from there. Now just because you hire an inspector, don't rely solely on their report, and always take the time out of your busy schedule to go through the home with them. Go over any areas that you may questions about, and really listen.
If you need home purchasing advice, it's easy to take advantage of Internet resources that offer valuable information. Purchasing a house can be the biggest financial decision many people make. Be sure you make the right decision by getting the answers to any questions you may have.
Making more money than your expenses is the first step, but lenders have certain guidelines for how much more you need to make. Before you start shopping for a home or the loan to purchase it, you should strive to pay-off bills or cut expenses to a third of your income. Many people believe the initial closing costs and required down payment is all they need to worry about, as long as they feel the payments are affordable. These ratios of expenses-to-income are strong considerations to a lender, who wants assurance of repayment.
Secondly, you really need to shop around for the right home. Make a list of what you are looking in a home before you go house hunting. While you can compromise on some things, make sure you are as close to what you want as you can. If you are planning a family, then make sure you have enough room to grow.
You may have contemplated purchasing a brand new home, but there are others that think about the affordability of an older, existing home. You need to compare unexpected repair expenses of an older home, while a brand new home may be more expensive, initially. At least you are getting newer appliances that save energy and they come with a warranty, when purchasing a newly-built house. You should face the fact of appliance replacement, when comparing an existing house on the market.
Close examination of candidates in the "used" home category is part of making an informed home-buying decision. Careful examination of the major components on a home can help you eliminate those houses that may require expensive repairs. Some defects may not be obvious to the untrained eye.
Some of the other areas to consider are the heating and air conditioning system, the hot water tank, gutters, insulation in the attic. Go around the outside of the property, looking at the foundation. Check for cracks and water damage. Look at the roof, check to see if the roofing tiles and siding are in good condition. Write all these things down, as well as any others you can think of.
If you have found what you're looking for, the next step is the negotiations process. The first thing you need to do is find a good home inspector. The best thing to do is go online to one of those comparison list sites and choose one from there. Now just because you hire an inspector, don't rely solely on their report, and always take the time out of your busy schedule to go through the home with them. Go over any areas that you may questions about, and really listen.
If you need home purchasing advice, it's easy to take advantage of Internet resources that offer valuable information. Purchasing a house can be the biggest financial decision many people make. Be sure you make the right decision by getting the answers to any questions you may have.
About the Author:
Lance Mohr is a full time real estate agent that has been in the business for over 14 years. If you are looking for an hard working Realtor give me a call. For details on Tampa real estate or Tampa luxury homes please visit our web site at Tampa2Enjoy.com.
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