Real estate can get very confusing. It has changed over time and the market always changes. With that said, it’s great to read facts that you should know about buying a home. It will help to educate you with the process, and what false information that could be out there. Keep reading to learn more!
How much can you afford? There are many online calculators out there that can help determine how much you will be able to qualify for. This is one of the first steps in the home buying process.
Yes, a realtor is so important. It will save you money and keep you out of any potential legal issues. Although there is a fee, it will be well worth it.
There are many kinds of loans that you can get to receive your mortgage. Some loans require 20% down and some only require 3%. It’s important to shop around to get the loan that will best suit your needs.
Make sure that you always have a home inspection done. You have the right to have a home inspection down after you have negotiated the offer. This may have you come back and let the seller know any additional issues going on in the home.
Understand that your loan has an application fees and this needs to be paid prior to closing.
The seller pays the realtor fees. Know that when you are buying, there are no realtor fees involved.
Understand how your payments work every month. Typically, your payments will not include the home owner’s insurance and property taxes like an online calculator will tell you. So, know each monthly charge prior to purchasing the home.
Get a copy of your credit report before you buy your home. This way you can correct any problems on your report before a lender sees it.
Your home has the best change of selling during the first 10 days on the market.
We hope that these tips helped! For more information on home buying, contact us today!