Buying a house? Here are some tips that will help you make the best out of the process of finding and buying your dream house.
1. Choose the Right Realtor®
As a buyer, typically you don’t pay the real estate commission, the seller does. A Realtor® with experience and knowledge is your financial advisor for what will most likely be the largest transaction of your life. Make sure you choose wisely.
2. Location, Location, Location
How many times have you heard this over the years? It still holds true, and always will. You can re-model and re-design, but you can’t change the location if you’ve got appreciation of value in mind.
3. Home Inspections
A home inspection is the best investment you can make because it can save you thousands of dollars! A licensed home inspector will check structural, mechanical, electrical, plumbing and heating as well as a/c systems for defects the home owner may or may not be aware of and can help you make a decision on whether to buy or not.
4. Your Lender and Your Loan
Choose your lender wisely; making sure the loan program is appropriate for you. For example, if you know you’re going to be in the home for less than five years before you move, why pay closing fees up front. A good lender will take the time to find the loan that’s best for you.
5. Buy a Home You Can Afford
Using a lender’s guidelines, decide how much house you can afford. You want to get the most house for your money, but don’t want to over extend yourself either.
6. Buy a Home You Like
You’ll be living in your home, not your friends or relatives and no matter how well intentioned they are, no one but you should be deciding whether or not you’ll buy it.