I am going to be buying my first home. Is there anything you wish someone would have told you before buying.?
2007-11-02 03:52:27 · 10 answers · asked by Hello;) 2 in Business & Finance ➔ Renting & Real Estate
Get yourself a good buyer's agent that will protect your best interest and guide you through the process.
2007-11-02 03:56:23 · answer #1 · answered by Cheryl S 5 · 1⤊ 0⤋
Be conservative when you are establishing your price range for houses you can afford and then, most importantly stick to it! If your Realtor is consistently showing you houses at the high end, or above, of your range, do not be afraid to tell the person that you want to see other houses as well, or in an extreme case, to fire your Realtor. Remember, Realtors are generally paid a commission based on the sale price of the house, rather than a flat fee.
It is no fun having a great house and being house poor.
Do not be afraid to walk away from a property, even if it is your dream house, if the seller rejects your offer (provided the offer is reasonable). It is a buyer's market and there are plenty of houses on the market, besides, the seller may reconsider depending on how long the property has been on the market. If you made a low ball offer, you can always increase the bid if you want.
2007-11-02 04:10:16 · answer #2 · answered by Eric D 3 · 1⤊ 0⤋
Don't know where you are buying, but look very closely at the housing trend, and make sure you are not buying a home that will loose value. Even foreclosures are not being bought in the area I live due to the loss in home values. On the other hand, it could be a great time to find a deal if you were to look closely.
2007-11-02 04:00:04 · answer #3 · answered by GrantS 3 · 0⤊ 0⤋
i'd not purchase a house in the present day market is going down, slowly. prices of pastime going up, slowly. living house expenditures have not corrected themselves in a lengthy time period, ten years now? in case you won't be able to placed down more advantageous than 25 % now, i imagine it will be wiser to employ, and keep $500-800 a month really of committing to a mtg. this kind... the fairness that you imagine you're lacking out on in the present day. you'd be making up for it in price reductions. And at the same time as the mkt takes a correction, then you actually'll no longer in easy words be able to purchase the living house you've continuously needed, yet you perhaps waiting to purchase 2! prices are going up. So evaluate, what it would do on your month-to-month funds if prices went up 2 more advantageous p.c. contained in the subsequent 5 years. likely $one hundred in line with percentage factor on each and every one hundred thousand mtg. it is about 1200 money a 365 days more advantageous in pastime in line with 365 days in line with one hundred 000 borrowed. What takes position if prices bypass up 5 p.c.? and expenditures drop 20% next 365 days? would you be receiving a telephone call from the commercial organization? would you nonetheless have fairness contained in the living house, such that economic organization would call you on your mtg? nicely what ever you do. good success desire for the superb. yet be prepared for the worst
2016-10-23 06:35:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
you need competent advice in the target area. Lots of traps and pitfalls for people who don't know what's what.
Cheapest way to hire this, imo, is a "Buyer's Agent" -- a real estate agent who has been around a few years or decades and knows what to look out for.
possible problems: flood plain, hurricane insurance, tax increase due to reassessment, termites, leaking roof, appliances that fail, property used not conforming to survey, title insurance, toxic waste, toxic loan, additions that were not permitted or are contrary to zoning, restrictive covenants, unreported easements, known but not yet attached assessments, etc., etc.
2007-11-02 03:59:11 · answer #5 · answered by Spock (rhp) 7 · 1⤊ 0⤋
Check with your state to see if they offer a First Time Homebuyer program.
Arizona currenlty has 400 million dollars to offer first time homebuyer's with some excellent incentives.
Here is the link for Arizona.
http://www.welcome2arizona.com/home/first_time_homebuyer/first_time_homebuyer.php
Terry S.
http://www.Welcome2Arizona.com
2007-11-02 05:51:18 · answer #6 · answered by Terry S 5 · 0⤊ 0⤋
Don't Rush! Get Preapproved for a mortgage loan first! Don't buy more than you can truly afford.
2007-11-02 04:36:57 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Get what what you want but remember you're first home isn't in most cases gonna be you're "dream home" keep that in mind and get something you can afford.
2007-11-02 04:02:58 · answer #8 · answered by mr1cutie2002 2 · 0⤊ 0⤋
Definitely get a buyer's agent.
2007-11-02 04:43:48 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Attend your home inspection. it is worth the 3+ hours you are there with the inspector. http://www.choicerealestate.net/
2007-11-02 04:53:59 · answer #10 · answered by Anonymous · 0⤊ 0⤋