2006-09-20 14:02:00 · 15 answers · asked by Tatun 1 in Business & Finance ➔ Renting & Real Estate
http://www.breakingbubble.com/index.htm
2006-09-20 17:13:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
How exciting it is to look for a new home. Congratulations!! But how overwhelming it can be too. Here are some ideas that come to mind. Hope they are helpful.
The taxes in the area. Realize you wont be paying what they are. Taxes are based on the area and what price you purchase the home at.
The year of the home. The comps in the area, what houses are selling for in the area. The year the roof and siding were last replaced. How old the heater and water tank are. Get a full inspection by some one you hire, not from the owners. Look under rugs, furniture and for cracks in the basement, also for water marks. Don't assume that appliances, outdoor sheds, or swing sets are included. Check in the corners of the bathroom and basement and possibly kitchen for mold. Black mold is deadly. But the inspector should find this.
The yard if the yard is level or above the other neighbors than fine but you do not want to have a low yard. Also if it has a crawl space check for standing water.
Lots of closet space and storage. It is the trick to being happy and decluttered.
I always like to look at the home with just the selling agent. That way you don't feel uncomfortable about really looking for flaws.
Good Luck on your big decision, this is a major financial purchase and you are smart to check out all your options. I recommend going to a bookstore and get a book on buying a house, like Buying a house for Dummies. I love the for dummies books. They always have a lot of info.
2006-09-20 21:23:36 · answer #2 · answered by galbee 3 · 0⤊ 0⤋
1. The first thing you have to consider is if the house is in a location you like. Is there a bus route/shops/train station nearby?
2. Brick or timber? You don't have to paint brick. Timber breaths (adjusts to temperature changes better).
3. Single or double storey? Some people find stairs a chore.
4. Try and buy the worst looking house in the best street, then over time you can renovate it (or have it renovated).
5. Is it in structurally sound condition ? - get an inspection by a qualified inspector before buying.
6. Is there a termite/white ant problem in the area? - get a pest inspection before purchasing.
7. Is the house fully insulated, and with what.
...just a few suggestions
2006-09-20 21:23:30 · answer #3 · answered by Tony C 2 · 0⤊ 0⤋
There are many things you should consider when buying a new house. Like is it suitable for you and your family. Are the nieghbors around you friendly and not annoying? Is the house you are buying in ur budget? Is everyone in your family happy with the house you are buying? If you have children are the local school good for your children? Do you and your wife have a job that is clos by? Is the location good for all of my daily needs? Etc. Etc. Etc. THere are many questions that you can ask yourself. But at the end of all of it you should know that if this house is good for you or not. And then considor buying it! Good Luck! Hope my answer helped you!
=)
2006-09-20 21:12:13 · answer #4 · answered by 【ツ】♥americandesi16♥【ツ】 2 · 0⤊ 0⤋
First thing the location, schools, if you have children, if homes haven't lost their value, check on comparables in that area, ask your realtor to provide you with a full report on the area you are considering buying.
Make sure the home is not over-priced. You need to get educated, informed on the financing of the property and all options first and make your decision, based on finances and convinient mortgage payments, also check if the home is in a flood zone, so you don't end up paying extra for flood insurance, besides hazard insurance. There are many websites on this, ask this question on google.com and you will be taken to many different great informative websites. Make sure you can negotiate getting enough points for closing costs, hopefully yo can make an offer like that, and make sure they don't charge too many points when obtaining your home loan, negotiate that too, and agree to pay no more than a point, though your rate may be just slightly higher if you go with a mortgage broker and not a direct lender. Direct lenders are difficult to deal with, because they have many requirements, a broker can work around them based on their experience and established relatinships with many lenders.
Good luck!
2006-09-20 21:19:59 · answer #5 · answered by You are loved 5 · 0⤊ 0⤋
As housing market continues to slump, if you don't plan to delay your plan, please interview several and pick a good realtor or agent.
Bad ones will talk you into buying the largest property at your credit limit. Good ones will find you a good deal (Sellers are offering discount and incentives now).
Try to stay away from Adjustable Mortgage, because 30 year fix mortgage rate is very low right now. There is no reason to use Adjustable loans except fatter commission for loan agents.
Interests only loans are not good iether. Mortgage payment consists of two parts: interests and principal. Interests are like rent, which doesn't add to the equity to your house. It simply disappear as your pay it. If you want to use interests only loans, might as well rent, especially during market downturn, because housing price won't appreciate.
Finally, for tax benefits, talk to your CPA or tax accountant. Do not consult finance with realtors or agents. They get commissions when you sign the check!
Good luck!
http://biz.yahoo.com/brn/060909/19463.html
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514
2006-09-21 04:07:54 · answer #6 · answered by Price is what you pay for value. 3 · 0⤊ 0⤋
location, location, location. If the location is good and you are not paying more than the market price, you are good. Try to buy the cheapest house on the block. Since real estate market is slowing down, watch carefully for the trend in your area before making a decision.
2006-09-20 21:06:33 · answer #7 · answered by spot 5 · 1⤊ 0⤋
Location and convenience. Hire a house inspector and make your offer conditional upon inspection. For the few hundred dollars the inspection costs, the peace of mind is worth it.
2006-09-20 21:10:30 · answer #8 · answered by Anonymous · 0⤊ 0⤋
There are alot of things to consider. Price, location, resale, neighborhood, commute time, interest rate, insurance. The list is endless.
2006-09-20 21:19:03 · answer #9 · answered by d b 3 · 0⤊ 0⤋
Check out the people who will be your neighbors.
You can change the structure and appliances, but not crazy neighbors.
2006-09-20 22:24:17 · answer #10 · answered by Anonymous · 0⤊ 0⤋
Is the housing market overvalued in your area?
2006-09-20 21:05:42 · answer #11 · answered by LongJohns 7 · 0⤊ 0⤋