Buying a home is an
exciting experience, but it can be equally terrifying at the same time. You
want your new home to also be a successful investment, but how do you know if
you are getting the best deal? Here a few tips to make sure you are getting the
most bang for your buck.
Use a Real estate Professional
They see houses and
close transactions every day of their lives. They know what they are doing and
should be very familiar with the area. Trusting them is a huge asset in this
process.
Know the Area
Be sure to research the
area that you are interested in purchasing a home. School districts are
important to know. Even if you are not planning on having any children, the
type of school district will determine the resell value of your home.
Get a Home Inspection
You and agent have
found the perfect house, now get a home inspection to make sure. Although real
estate agents have tons of experience and can spot some potential issues, home
inspectors will do a thorough job going through the entire house. They will
literally inspect the house from the crawl spaces in the basement to the actual
roof to give you a complete report of the house condition. Use this report
wisely.
Research Comparable Property in the Area
There are several sites
that you can utilize for this purpose. Do not get caught in the
"estimate" these sites give for the property you are interested in,
but look instead at neighboring homes that have sold recently. These sites can
tell you features of the home (number of beds, baths, square footage, etc.),
the last date sold, and the price. Compare these features and prices to that of
the house you are interested in purchasing. If you feel there may be some
discrepancies, speak to your real estate professional.
Get an Appraisal
If you are obtaining a
mortgage to complete this transaction, this will, often times, be required and
provided by the lender. If you are purchasing the home without a lender,
contact a local appraiser anyway. Appraisers are licensed individuals that will
provide you with a detailed report of that homes value compared to other homes
in the area
Although buying a house
can seem like a daunting task, it should also be an enjoyable milestone.
Following these simple guidelines and trusting in your real estate
professionals will ensure that you are make a wise invest for the future.
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