It is important to get pre-qualified for a home loan before you go searching for a house. You will avoid wasting your time and the agents time by limiting your search to houses you can afford to buy. Also, securing a loan can take a long time, and waiting until the last minute to start finding one is not a smart decision.
If a home is a real fixer and needs lots of work, you can probably get it for a good price. You will save money on the purchase, and you can use that money to repair and upgrade the home as you wish. You will be able to design the home you have always dreamed of and significantly enhance the value of your property. Concentrate on placing emphasis on the home’s possibilities instead of its flaws. A little fix up work can transform an ugly facade into your dream home!
Get a warranty for your home from the seller. If you buy a home, ask the seller (builder or previous owner) to warrant the home for a certain period of time. The person who builds the home needs to have the confidence in his or her work to stand by it for a certain period of time. If the home was previously occupied, ask the previous owner to buy a home warranty so that you won’t be out thousands of dollars if things break.
You should make certain that you have funds available to meet the required minimum down payment set by your mortgage company. Otherwise, you will have to pay for private insurance on your mortgage. This is an extra fee that could possibly add a substantial amount to your monthly mortgage payment to give the bank confidence that you can make the payments on your home.
When you have kids, or are planning to start a family in the future, make sure you buy a home that can accommodate everyone. Your new home should be equipped for safety; consider this wisely if your home has a swimming pool or steep stairs. You are more likely to buy a safer home if you purchase from parents who raised kids there.
Use these tips to start getting what you need to buy your home. You will be able to avoid the most common pitfalls if you apply these tips carefully. Have fun house hunting.
For help with Summerland Key Real Estate contact Abby Oglesbee