Tips For Buying a New Home

Tips For Buying a New Home

Buying a new home is an important life decision and investment. You are required make sure that what you are buying is perfect for you and your family. There are some steps you can take to ensure you are getting the right home that will meet all of your needs.

Consider Your Needs:

Before looking at new homes, you should consider what type of home will meet your requirements. You should think about location, size of the home (square footage,) number of levels, the number of bedrooms and bathrooms, whether you need a back yard if the home is near your work, schools, playgrounds, and other amenities. Look through magazines, newspapers, and homes for sale on the internet to determine what you want.

Hire Your Agent:

Hire a Real Estate Agent to represent you. Sellers’ agents tend to represent the seller. It would be beneficial to use your agent because they can negotiate the price and save you money. The prices of the commission will be worth the savings you receive from the house purchase. An agent will also inform you of any issues about the home that you should know. Ask for detailed price and estimates of everything that is involved with buying a new home. Your lender and agent can guide you on the charges of securing mortgage and taxes.

Find a Reputable Lender:

Depending on your credit history, a bank may offer good rates and terms. A sales agent may know of a good private lender. Find out whether your lender will lend on all the options and upgrades. It pays to shop around. Make sure the lender gives you a pre-approval. If they don’t, then go to another lender. Talk to the lender about mortgages early in the sales process. You will then know if you can afford the home.

Consult with an Attorney:

A real estate lawyer is the best person to talk to. They can tell you about fees such as deed transfer fees, title costs, taxes, and other costs. Ask about cancellation rights and your liabilities.

Hire a Licensed and Accredited Building Inspector:

Get a home inspection before you buy. An inspector will determine if a new home contains any defects. Make sure that you carefully look the qualities of the home builder’s. Look at the builder’s specification list to see if all of the features have been included.  Here are some more reasons to get an inspection done.

 Modern Furnishings:

Ask if your new home can accommodate the latest security advancements for such items as burglar alarms and surveillance cameras. You should also ask if the home is wired for the most current technology such as multiple phone lines, high-speed internet connections, and other cable outlets. Determine if you will need to buy any new appliances and furnishings.

Warranties:

Many home builders provide warranties in case of a structural defect develops. Having a warranty for a newly constructed home is important. If there are new appliances in the home, make sure you are provided with the warranties.

Although buying a new home is an good personal decision and most important life investment, it is also a very exciting and memorable time in one’s life. Before signing on the dotted line, make sure you have complete knowledge of the new home. This will help avoid any unexpected problems and ensure that all of your needs are met.

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Checklist for Buying a House

Checklist for Buying a House

Finding the ideal house for you and your family can be a long and tedious process that requires a lot of time and effort. Here is a checklist for buying a house for the first time.

1)Location, location, location

If you have a long-term job or run a business that takes up a lot of your time, then the house you buy shouldn’t be too far away from your place of work so that going home (or getting to work) isn’t a tiring task.

Proximity to a good school is important if you are a parent. Always look up nearby schools before you splash the cash.

It also shouldn’t be situated too far away from social amenities like grocery stores and what not. The area should also have good security and shouldn’t be too close to busy roads or railway tracks; these areas are usually quite noisy.

2) Room for expansion

Your needs for space grow with time, especially if you are a young family; and moving every time you need more room is costly and hectic. Therefore, the house you buy should allow you to easily and seamlessly add more living space when you need to.

3)Good neighbourhood

A house is only as good as the neighborhood in which it is located. You wouldn’t want to live alongside noisy and stubborn neighbors no matter how perfect the house is. Therefore, ask around first (do some door-to-door research if you must) to get the feel of the place and the people before you write that check.

4)Age of the house

Check whether it has modern air conditioning, piping and electrical systems as some old ones are known to be fire hazards. Old houses are susceptible to rot and termite attacks. Septic systems among many other things in an ordinary house have a lifespan and need to be replaced every so often. A house that is too old will need a lot of maintenance work and cost you a lot of money in the long run.

5) Buy what you can afford

You don’t need to spend too much money to acquire a home that will leave you drowning in mortgage debt to get the perfect home. There are really good houses out there with a reasonable price tag and you can easily remodel to get exactly what you want. Do not buy to impress.The only person your house should impress is you.

6) Market Value

Although you’re always looking for a place for the long term, you never know what the future holds. Buy in a prime place whose value doesn’t depreciate in the real estate market so that when you need to cash out, later on, you get back all your money.

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