Home Buyer's Tips

Here are some things to keep in mind when in the market for a new home. One of the biggest mistakes that a home buyer can make is to continue to look for that "ideal" house while passing up perfectly good houses in the process. If this is your first house, chances are it will not be the last one that you will buy. As you delay your purchase, home prices will probably continue to rise and quite possibly, interest rates will too.

Having stated that, you should not rush into the biggest financial transaction of your life without careful consideration. For this reason, we have highlighted most of the major items that you need to consider when looking to buy. With good planning, you can join the millions of other families who own their own homes and are taking advantage of the many benefits that are available to home owners.

Starting with the obvious: LOCATION, LOCATION, LOCATION.
What kinds of things are important to you? Will you be near stores, schools, parks, restaurants, theaters, supermarkets? Do you mind being on a busy street or would you rather be on a quiet cul-de-sac? Is the house near public transportation? How far is it to work? Use my Preferences Form and Location Check List to to help with this decision.

INSPECTIONS:
While house hunting you should follow this recommended procedures to assure that you are picking the right home for you and that there are no obstacles or downfalls that would lead to any disappointments. As a professional REALTOR® I am helping you by offering this guideline:

1. Conduct walk-through inspection of every home you visit. Use my Preliminary Inspection Form. The inspections should include:

• Opening windows, closets and cabinets.
• Flushing toilets.
• Turning on sinks and sprinkler systems.
• Flicking light switches.
• Noting the home's structural condition and any repairs that are needed; look for cracks.
• Look under curtains and other window treatments.

2. Once you see a home you like, drive back to the neighborhood at different times of day and night. See how quiet it is, especially during rush hour, how safe you feel after dark, how friendly the neighbors are. If you know someone who lives in the neighborhood, call to ask them what life in the neighborhood is like.

3. Once you and I find a house you like, measure the main rooms to ensure they will provide the living space you're seeking. The way the current owner has decorated can give even the tightest quarters a spacious feeling. If you have any large pieces of furniture you are committed to keeping, make sure the new rooms will accommodate them. Now is the time to conduct a thorough inspection using my Through Inspection Form.

4. An area exploration and fact gathering should now be done. Use my Location Checklist. Get as much information as possible on an area you're considering. Take note of seasonal peculiarities and any upcoming changes planned for the community. Perhaps a major employer is moving into the area and plans to build a large development and expand the business district. Knowing these types of things will help you strategies effectively.

5. After completing all the steps above, let your instinct guide you to your final choice. The house that feels like home probably is.

FINANCIAL:
What are the average monthly utility bills?
How much are the real estate taxes? Has there been an increase lately or is the area due for a reassessment?
Are there any major repairs needed in the near future?
Can you afford the monthly payments? Check the functions provided in this software program.

GENERAL:
A home warranty program. This will protect you, the buyer, if any of the major appliances breaks down within a given period of time.

MORE HELP:

• Real Estate Glossary
• Real Estate Ad Terms
• Styles of Homes
• Tips for Investors, Buyers, and Sellers

Learn more about:

• Mortgage Prequalification
  
• How much will my payments be?
  
• How much can I afford to borrow?
  
• Save by increasing each payment.
  
• Save by turning a monthly to biweekly.
  
• How much has my home value increased

It is recommended you contact a loan agent
to get the correct figures.