{"id":2687,"date":"2014-06-25T17:39:13","date_gmt":"2014-06-26T00:39:13","guid":{"rendered":"https:\/\/www.costulessdirect.com\/?p=2687"},"modified":"2014-06-25T17:39:13","modified_gmt":"2014-06-26T00:39:13","slug":"looking-to-buy-a-new-home-read-this-first","status":"publish","type":"post","link":"https:\/\/www.costulessdirect.com\/blog\/looking-to-buy-a-new-home-read-this-first\/","title":{"rendered":"Looking to Buy a New Home? Read This First"},"content":{"rendered":"

Whether you\u2019re a first-time homebuyer or a seasoned veteran, you\u2019ll want to make sure you\u2019re covering all the bases, including identifying your \u201cperfect home,\u201d finding the right real estate agent, having smart financial planning, doing thorough research, and weighing all your options, and having an idea how much homeowners insurance<\/a> will cost.<\/p>\n

As a homebuyer, you need to carefully consider your future living situation, and figure out what makes sense for your lifestyle and budget. There are benefits and challenges to each type of housing that you\u2019ll want to take into account:<\/p>\n

Type of home<\/strong><\/p>\n

Townhome <\/strong><\/p>\n

\u2022 Pros: Budget-minded, monthly payments similar to rent, lower Home Owner Association dues, landscaping and maintenance included.
\n\u2022 Cons: Shared wall, 2 or 3 levels, smaller living area, may have to get permission to make bigger changes or updates on property.<\/p>\n

Condominium <\/strong><\/p>\n

\u2022 Pros: May be more affordable than traditional, single-unit home, but receive same tax benefits, may include amenities, landscaping and exterior maintenance included.
\n\u2022 Cons: Shared walls\/ceilings, etc., closer living quarters with neighbors, may pay for amenities you don\u2019t use, may have additional maintenance fees.<\/p>\n

Detached Home <\/strong><\/p>\n

\u2022 Pros: Most private, tax deductions \/ benefits, highest appreciation in value, stable payment schedule (fixed mortgage)
\n\u2022 Cons: Higher down payment needed, long-term commitment, higher annual taxes, pay own utilities, all maintenance, repairs, landscaping.<\/p>\n

It\u2019s highly recommended as a homebuyer, whether first-time or not, that you enlist the help of a professional real estate agent who\u2019ll bring years of expertise to guide you through the whole home buying process.<\/p>\n

They will help: <\/strong><\/p>\n

\u2022 Navigate the mountains of paperwork and forms that you have to fill out
\n\u2022 Explain standard contracts
\n\u2022 Write and present your offer letter
\n\u2022 Work out a counter offer
\n\u2022 Negotiate pricing or any type of contingencies\/particulars<\/p>\n

Because your real estate agent will be familiar with your non-negotiable points, your preferences, and your price range as a homebuyer, they will suggest properties within or similar to your needs, especially concerning budget!<\/p>\n

A good real estate agent will advise you to get pre-approved for a loan even before you find the house that you love. Being pre-approved as a buyer can help speed-up the closing process and make your offer look more appealing, since it shows that you have solid financing and the offer will not fall through due to a lack of funds (Note: Pre-approval differs from Pre-qualification, which does not mean much; anyone can get pre-qualified without official verification).<\/p>\n

Now that you have your budget in mind and a good realtor by your side, if you have found a home you\u2019re interested in, do some basic research:
\n\u2022 Look up housing prices, trends, and sales in that particular area to see how that property compares.
\n\u2022 Redfin.com and RMLS.com are excellent sites for homebuyers.
\n\u2022 Zillow.com can also be helpful, but be aware:
\no Zillow is not always up-to-date and sometimes lists unverified information on houses that are not even on the market.<\/p>\n

Remember, location is very important; you can change things about the house, but you can\u2019t change where it\u2019s situated. When it comes time to sell, strong school districts are often a top priority for many homebuyers, and it can help justify and even increase the home\u2019s value.<\/p>\n

Lastly, as a savvy homebuyer, make sure to order an inspection on the property. You will have to get a mandatory appraisal done, but that\u2019s more to assure the bank that your property is worth the amount of the loan. To protect yourself, be sure to get the house inspected to ensure there are no major issues. And if there are any problems, as the buyer, your realtor may suggest that you negotiate pricing or send a repair addendum to the seller addressing those concerns. Bottom line: Know what you\u2019re paying for!<\/p>\n

As the saying goes, you should \u201cget your house in order\u201d so that, as a homebuyer, you can not only be confident that purchasing is the right choice for you, but you\u2019ll be well informed to make the best decision on a new home. And to save money, remember to get several quotes on your homeowners insurance.<\/p>\n

Are you currently looking for a new home? Feel free to share your thoughts and experiences in the comments section below.<\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you\u2019re a first-time homebuyer or a seasoned veteran, you\u2019ll want to make sure you\u2019re covering all the bases, including identifying your \u201cperfect home,\u201d finding the right real estate agent, having smart financial planning, doing thorough research, and weighing all your options, and having an idea how much homeowners insurance will cost. As a homebuyer, […]<\/p>\n","protected":false},"author":1,"featured_media":2699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[316,365],"acf":[],"_links":{"self":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts\/2687"}],"collection":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/comments?post=2687"}],"version-history":[{"count":0,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts\/2687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/media?parent=2687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/categories?post=2687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/tags?post=2687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}