Important Things To Know Before Buying A Home

Important Things To Know Before Buying A Home



Important Things to​ Know Before Buying a​ Home
Are you going through all those anxiety pangs that one normally gets while mulling over the decision of​ buying a​ home? Homebuyers are an​ anxious lot, eager for useful real estate information .​
It pays to​ get yourself acquainted with the steps involved in​ the purchase of​ a​ home .​
Here’s a​ list of​ important things to​ know before buying a​ home .​
1. The first step is​ to​ find out how much you can afford or​ qualify for .​
Check your credit report to​ know your credit worthiness .​
Clear up problems if​ any before going to​ a​ lender .​
a​ good credit rating will result in​ you receiving lower interest rates.
2. Get pre-approved for a​ mortgage from a​ mortgage broker or​ lender, with a​ commitment to​ fund your mortgage in​ writing .​
Look out for frequent payment options and prepayment options, which would help knock off some years from your mortgage .​
And finally, settle for comfortable monthly payments .​
Once pre-approved for a​ loan, you will know your price range to​ begin shopping for real estate.
3. You should buy the real estate that is​ right for you .​
Make a​ wish list of​ all the specifications you want in​ your home .​
Prioritize them based on your wants and needs .​
Then mark out those aspects that you are willing to​ compromise on, in​ case you need to.
4. Get a​ good, reputable Real Estate Agent to​ assist you in​ locating a​ property in​ a​ desirable location .​
Your Real Estate Agent will know where to​ help you look for properties, while keeping your preferences and price range in​ mind .​
5. Once your agent provides you with a​ list of​ properties that are affordable, you can drive by to​ check the neighborhood .​
Look for a​ house in​ a​ location that has good potential for future appreciation .​
Consider factors like safety, school districts, freeway access, recreational options, work commute time, shopping facilities etc .​
6. Check out a​ sufficient amount of​ real estate until you develop a​ sense of​ comparative value of​ each neighborhood .​
Your real estate agent can help you with the valuation.Visiting the localities at​ different points in​ time during the day is​ ideal .​
This will help narrow down the list .​
You might want to​ check during the morning commute, or​ after dark to​ verify that the neighborhood suits you .​
7. When you have found a​ house of​ your choice, compare its price with other houses in​ the area .​
Get your real estate agent to​ assess the value of​ the home.If all looks good, write an​ offer!
8. Lastly, consult your real estate agent to​ be sure that you obtain any professional inspections necessary to​ answer any questions you may have about the property.Some concerns may include: the condition of​ the roof, foundation, walls, plumbing, electrical, windows, etc.Other concerns may be: is​ the property in​ a​ flood zone, or​ wildfire area.Is the property subject to​ Mello-Roos? Are there CC& Rs? Are there any easements on the property, etc.Your professional Real Estate Agent will assist you in​ answering these and other questions you may have prior to​ closing escrow on a​ property.




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