You must have the minimum amount required by your mortgage company. If you don’t put a sufficient amount of money down on your house, you’ll have to pay mortgage insurance premiums. This can cost a lot more than you’d need to pay than if you went for a conventional mortgage.
Unless you reside in a climate in which it is really needed, do not buy a house with a fireplace other than in the family room. Cleaning fireplaces can really be a pain, and most people never use them.
Purchase the home you’ve always dreamed of. Experts disagree on whether now is a good time to sell and purchase a larger home, but some suggest it could be a good idea. With housing costs expected to rise again soon, now is the ideal time to jump into that dream home.
Adopt a flexible attitude toward making choices. You may find that your ideal home isn’t affordable in your ideal neighborhood, but with a small bit of compromise, you might find an acceptable alternative. Consider all of the options that are available and weigh them out in terms of your preferred location, the desired features of the house and how much you can pay.
A home’s square footage will be listed in a variety of documents. You can ask the homeowner to see documentation verifying square footage or bring a tape measure to measure rooms yourself to verify a home’s size. Make sure your home’s square feet is listed correctly on the public record. These two numbers need to be approximately the same, within 100 square feet. If they don’t match, you must determine what the cause of the problem is.
Buying a new home? Here are some things you should know before you get started. By following them, you can make sure you don’t commit common mistakes. Hopefully this information will allow you to enjoy your new purchase.
For help with Summerland Key Real Estate contact Abby Oglesbee