Great Buyer Tips to Make the Right Decision
For Your Consideration.....
Even if the quality of a school district does not matter to you now, remember it might someday to another buyer.
Expect lower maintenance costs with a brand-new home.
When interest rates are low, opt for a fixed mortgage.
Pay attention to floor plans. Changing layouts of rooms later can be costly.
You can deduct on that years tax return points paid by either party on the purchase of your own residence.
If the present owner has a title insurance policy less than 3 years old, you could have substantial savings by buying a reissue of that policy rather than a completely new one.
Pay attention to the original listing date of the homes you inspect. Sellers tend to be more flexible in price the longer the home is on the market.
A house that is oriented to take advantage of the sun, wind and topography costs less to heat and cool which can save you substantially on utility bills.
Buying a house whose style is uniquely individual tends to minimize, not maximize, its resale value because the house will appeal to a more limited audience of potential buyers.
If you think you may need more space in the near future, be sure the house and lot will allow for expansion.
Redoing a kitchen can be expensive. Be sure you know what you need and want before you buy.
Before you buy a house that may have a wet basement problem, get a good unbiased diagnosis from a professional with moisture control experience. The solution could be costly.
A roof that complements the style of a home and is carefully maintained adds to the home's visual appeal and its resale value.
A light-colored roof reflects heat and is best in areas where air-conditioning is the greater energy user. In colder weather climates, a dark roof is preferable because it absorbs more heat. In temperate climates, a middle-range shade is best.
The three most popular wall choices are brick, wood siding and stucco. About half of all home shoppers prefer brick for exterior walls; about one-third prefer wood siding; and about one-fifth prefer stucco.
Wood floors suggest warmth, quality and good taste and are an asset when it comes time to sell a house.
Most home shoppers prefer a combination of ceramic tile neutral color paint for bathroom walls, creating a positive effect on the house's resale value. Ceramic tile is usually installed wherever water meets the wall.
Plant deciduous trees, shrubs and vines on south and west sides of the home to provide shade in the summer and sunshine in the winter. Remember trees enhance the beauty and value of a lot and house.
Don't buy an unusual home if you have to resell soon.
Don't buy a house with foundation problems. Most foundation problems can be corrected, but repairs are usually expensive.
Never tell a seller's broker how much you will raise your offer for a particular house.
There's no doubt that choosing a home is a big decision and you want to do it right.
As a buyer, here's what actually happens. A home has been placed on the market for which the seller has established an asking price as well as other terms. In effect, this is an offer. At this point, you have three choices: accept the seller's offer and create a contract; reject it and not make an offer; or suggest different terms and make a counter-offer. If you choose this last option, the seller may accept, reject or make a counter-offer.
No aspect of the home buying process is more complex, personal or variable than bargaining between buyers and sellers. This is the point where the value of an experienced REALTOR® like myself is clearly evident because I know the community, have seen numerous homes for sale, know local values and has spent years negotiating realty transactions.
Is it THE house?
A house is shelter, but a home is far more. It's where you live, relax, entertain friends, raise families, and work. A home is where you spend much of your life, and so choosing a house is an enormous decision.
Can you really afford it?
Getting pre-approved means you have a very good idea of how much you can borrow, what loan programs will most likely work best in your situation and how much home you can afford.
How reliable is a pre-approval? While pre-approval is not a loan commitment, it's still necessary for lenders to check such items as appraisals and the latest credit reports. Despite fluctuating interest rates, pre-approval nonetheless provides a reasoned, careful analysis of what you can afford. After all, loan officers are routinely paid only when loans are originated. It doesn't make much sense for loan officers to suggest high loan limits that later can't be delivered.