Here are a few things that you may want to consider when purchasing a new home.
RESEARCH your potential Neighborhoods
This is extrememly important if you are going to be in an area for a few years or more. You want to like, if not love where you live!
Become the detective in the neighborhood, talk to neighbors find out how they like living there. Research the schools in the area, even if you don't have children, if there is a good school in the area then the resale value of your home will likely go up, than in a neighborhood where a school does not rate as high.
Check out the school information on our website at www.jenteam.com
Look at more than one house!
Even if you fall in love with the first house you set foot in, make sure you do a little comparing to know you are really certain it is the house for you. (Unless your agent told you that the area homes are getting bought up fast, then put your offer in and research it in the 10 day inspection period, to avoid loosing it)
Compare the house and neighborhood, the size, the ameneties that it has and what features may increase your property value.
Invest in a PROFESSIONAL Home Inspection
This is really important, it may uncover underlying costs that you might have right after move-in or down the road that can not be seen on the surface, or by Uncle Frank who was a contractor 15 years ago. A truly good home inspector will have the knowledge to tell you what problems are pressing and which are easily fixed.
Then once a list is compiled this will help you determine if you still want to purchase that house or not. A $300-$450 investment to find out about a house far outweighs your overall investment of thousands of dollars in repairs down the road.
Get a Home Warranty!
Make sure your agent asks for seller to pay for home warranty, in the case of some bank owned or short sales that will not pay for buyers warranty coverage, I seriously urge you to buy this for yourself. $350-$500 is nothing when your A/C compressor blows and you are faced with a $800-$2000 bill. Yes, it is sometimes like car warranties, you may buy and never need it, but I'd rather be safe than sorry.
Buy Within Your Means
Many of us can qualify for home loans that are beyond our real means of living. Don't max yourself out. Make a list of your needs, put your wants second. I have seen too many people buy a home at their max thinking that they will get a raise the next year, or that they can stop doing dinner and movies. It really never works like that. Jobs these days are unpredictible and the likelyhood that we want to sacrifice going out on the town or taking trips or buying things to get the house we want is usually a front we put up for ourselves to convince ourselves that we can stick to that.
Be wise!
Stay in tune with yourself, accept your friends advice and recommendations, but stick with the professionals, your agent, your lender and your home inspector and remember, they are experts in their fields, your friends are not. Your professionals have had schooling and experience which give them the knowledge they need to give you the facts that allow you to make the right decision for you.
No comments:
Post a Comment