Purchasing real estate is a big decision, and when it comes to finding the right real estate agent, homebuyers should be very cautious. Taking the time to investigate the inspector for your potential property is essential. You want to make sure they are certified, work for a reputable company, and if possible, are with an inspector association that is non-profit. If not, their credentials may be supplied by a non-reputable organization.
When deciding if you can afford a property, take outdoor maintenance costs into consideration. A house with a small yard and a big patio will require less costly upkeep than one with acreage and lots of greenery. If there are unhealthy trees that need removal, get estimates for the work, and factor the cost into your affordability decisions.
When buying a home after a previous home has foreclosed, you may be asked for a larger down payment. In many cases this is usually around twenty percent. The larger a down payment you can put on a new home the lower the interest rate is going to be for your loan.
People spend a considerable amount of time and energy to find their new home, but they usually find their real estate agent by sheer accident. It is very convenient, but buyers should spend more time finding their representative, and interview several agents before they choose the one they will work with.
Do not skip getting an independent inspection before buying your home. We all want to think that every one involved in the process is going to be completely honest, but you don't want to risk your future on it. A house may look beautiful on the outside, but without an inspection you don't know what may pop up shortly after you sign on the dotted line.
Start your plan for buying a home a year or more before you start the physical home buying process. You will want to take this time to make yourself more attractive to prospective lenders. Get a copy of your annual credit report, and review it for any discrepancies. Lenders will look at your debt to income ratio closely. So if you are holding a lot of debt try paying off a few of these accounts before looking for a mortgage.
One important tip when it comes to real estate is to inspect the entire neighborhood and make sure it lives up to your expectations for your own home. This is important because it may just be the reason why what appears to be your dream house is so affordable. If you have a beautiful home in a not-so-nice neighborhood your resale value and overall happiness may suffer.
At Oakstrand Realty, we understand that buying real estate is a challenging process. That’s why we’re here to provide you with the best resources and tips to help you make the right decision. Keep these tips in mind when you’re on your home buying journey and you’ll be sure to get the best price on your new home.