Buying A House Checklist | Ten Tips for Home Buyers‎




If you were watching the news, then you know the interest rate for mortgages is low. A 30-year fixed-rate mortgage will average around 3.18% through 2020.  This is the perfect time to purchase a home if you are a first-time homebuyer or are ready to upgrade from your starter home. I have listed below the top ten tips for buying your dream home. If you have these tips, it will help your house hunter go by a little smoother, and trust me, and it took me over one year to find our dream home. This August will make our one-year mark of owning ours forever home. Being educated is important when you make huge financial decisions, and there are few financial decisions higher than buying a home. Take the time to educate yourself about what you are getting into before you commit to purchasing any property. The following tips are here to help you get started.



1. The Location. They say that the three most important things to think about when buying are home are location, location, location. Do you want to be in a up and coming neighborhood or a family friendly location




2.The Neighborhood. Is it close to the conveniences you need (stores, parks)? Are the schools highly rated? Is it a low-crime area? All this can affect your home's value down the road. Remember, you can always make changes to your house, but you can't change its location.




3. Understand the actual value of any property you are buying. Understanding if the home has already built in equity or you paying over the market price of the home.



4. Have a lender pre-approve you before shopping:Get pre-approved by a mortgage lender to establish your second spending limit. The first spending limit is your own budget. You should use the lower number as your maximum spending limit. During pre-approval, the lender will examine your credit situation, your income, your debt situation and more.



5. Work with a skilled Realtor: that knows your area. A personal recommendation is the best way to find a real estate agent (but certainly not the only way). So, plug into your social network. Ask if anyone has bought a home recently, and if they can recommend a talented agent. Ask around at work. Ask your friends and family who live in the area. Ask it on Instagram



6. Identify Your Housing Needs: What kind of house do you prefer? Do you lean toward any architectural style? Do you want a one-story home or two? How many rooms? How much square footage? These are questions you need to answer in advance prior to you start house hunting. You need to know this information.



7. Shop for Homes Online. The Internet can be a great help during the house-hunting process. It allows you to preview properties online first before you try to arrange a showing. The technology has come a long way, too. A lot of listings have virtual tours, video content, and other features to help you screen properties. My visit site to look for homes are Zillow.com, Trulia.com and realtor.com.



8. KNOW YOUR DOWN PAYMENT OPTIONS: Many home buyers believe that 20% down is the only way to go. However, there are many lenders that allow a smaller down payment than that - as little as 3%. A local mortgage broker can discuss your options




9. DON'T BE AFRAID TO NEGOTIATE. Some sellers are really motivated to sell, and you can use this to your advantage. From much-needed home repairs to closing costs, you are fully within your rights to ask the seller to help pay for them. And if they're anxious to get their house off the market, they just may say yes.



10. SEARCH OPEN HOUSES. This is a great way to get a real feel for the neighborhood - and your potential neighbors!





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