Looking for your very first house can be exciting yet overwhelming. There are a lot of factors to consider before beginning your search.
The following tips on buying your first houseshould make the experience less stressful:
- Location is everything: Look for a home that’s in a good neighborhood with decent property values. You might also want to be near good schools, your workplace and local amenities.
- Know what you want: Write down the features you must have in a home on one list, then make other lists with features you don’t necessarily need and those you don’t want at all.
- Gather information: Search online for information on recent home sales in your area, and look at the listing price for homes that are currently on the market. You’ll get a better idea of how much you’ll be paying that way.
- Get a mortgage preapproval: Have a lender determine roughly how much you can afford to borrow for a mortgage.
- Take notes: Keep track of the homes you see, and note the features each one has for the sake of comparison.
Need more advice on buying your first house? Visit United Real Estate, and stop by our Facebook page.
When it comes to buying your first house, you’ve probably heard that location is everything. Although there are several other factors to consider when searching for a home, it’s true that location is one of the most important.
Picking out the ideal neighborhood for your first home depends on your personal preferences, such as whether you want to live near a good school for your kids’ sake or whether you want to be close to work. In general, the best neighborhoods contain the following:
- Property values that are on the rise or already high
- A low crime rate
- A good school district
- Properties that are well-cared for
- Easy access to employers, shops, parks, hospitals and other facilities
- Higher number of owner-occupants as opposed to renters
- Good traffic infrastructure
Just keep in mind that you might face greater competition for a home that’s located in a highly desirable neighborhood, so it’s important to know what kind of offer you should make. Enlist the help of a qualified realtor to make sure you don’t miss out on the home of your dreams.
Ready to start the home buying process? Contact United Real Estate, and visit our Facebook page for buying tips.
Whether you’re buying or selling, you’ll need to become familiar with common real estate terms.This helps you better understand what’s going on during the buying or selling process.
Here are five terms you should know when dealing with real estate:
- Closing costs: This refers to all of the costs that the buyer and seller pay upon closing, which include mortgage processing fees, title insurance, transfer taxes and brokerage commission.
- CMA: This refers to a comparative market analysis, which contains information on the prices of similar homes for sale in the area. A CMA helps you decide how much to sell your home for.
- Fixture: This refers to components of a home that are permanent, such as light fixtures, landscaping and window coverings. These must be dealt with carefully during negotiations in order to avoid disputes.
- Listing: This refers to the agreement a seller and real estate broker have for marketing and selling the home. It’s sometimes used in reference to the home that’s being sold.
- Title insurance: This insurance policy provides protection from ownership claims that are questionable.
Need professional help buying or selling a home? Contact a local agent at United Real Estate, and visit us on Facebook.