When buying a home, there are certain things you should be aware of.
Don't get caught off guard.
ONLINE MORTGAGE CALCULATORS ARE A FALSE FRIEND
Sure, they’re an excellent starting point, but you’ll need to speak with a tried-and-true mortgage professional to really have a clear understanding of what you can buy and what kind of rates you can expect. (A flush bank account, for instance, might get you a better rate; a poor credit history, however, could dock you points.) Make an appointment and talk it out with a reputable lender to find out where you really stand.
IT'S SMART TO PUT YOUR CREDIT CARDS ON ICE
Lenders have the right to check your credit up to the day of closing. don’t get excited about buying new furniture until after you have moved in.
YOU'LL GET HIT WITH LOTS OF HIDDEN COSTS
Beyond the down payment it’s standard that you’ll have to make deposits when you submit your offer and when you sign the agreement, and you’ll also have to cover fees for the home inspection and closing.
PAYING THE ASKING PRICE DOESN'T MEAN YOU'RE OVERPAYING
“A smart seller heeds professional advice when listing their home. That’s why you should focus less on getting a “deal” and more on getting a grip on what you feel is fair market value. If the asking price is on par with what you expected, it’s A-OK to offer that.”
YOUR OFFER ISN'T JUST ABOUT THE MONEY.
Yes, the price matters but some people are also motivated by the closing date. Time is money for some people. Some sellers are also emotional and like to know your story, what is it about that house that you desire and why?
THERE'S NO SUCH THING AS A "PERFECT" HOME
We know there are certain elements in a home that you want to make sure you have, but be realistic. Understand what can be budgeted in to be added on to later. Consider what are your must- haves vs your temporary wants.
purewow.com
Comments (1)Subscribe to CommentsComment