10 Things To Consider When Buying Your First Home!
We all know that buying a home is a big and exciting time in out life and a graduation from Renter to Home Owner. But what would it be worth to have a list of 10 Things To Consider When buying Your First Home? It could be would hundreds or thousands of dollars.
# 1 of 10 Things to Consider When Buying Your First Home- What will your cash flow be, after you purchase the home and paid all the monthly bills. Are you going to have extra cash still left over or will you be house poor?
#2 of 10 Things to Consider When Buying Your First Home- What school district will your home be in and what schools will your kids attend. For more information about school districts, school rankings, sex offenders, local police reports and more,visit 10 Things To Consider When Buying Your First Home and find your helpful web link on the left side of the page.
#3 of 10 Things To Consider When Buying Your First Home-What repairs will the house need, after the purchase and how soon do they need to be addressed. You should have a home repair budget if you intend to stay onto of home repairs.
#4 of 10 Things To Consider When Buying Your First Home-The size of the lot and vegetation will be a factor in what it cost to maintain the property, the size of lawn mover, show blowers, plows and yard and pruning equipment. Craigslist is a great place to find most, if not all of your green thumb needs, for about 50% of what it would cost new.
#5 of 10 Things To Consider When Buying Your First Home- What time of year your considering your move. If you have kids you may want to consider moving in the summer time, when the kids are out of school. Do you have a vacation planned? Maybe you can only make the move during your vacation time and need to work things out with your boss. You may also want to consider that during the Spring time homes go for a bit more than what they would in the summer, fall and winter. There is less competition on the market in the Spring time and home owners typically get more for their homes, statistically.
#6 of 10 Things To Consider When Buying Your First Home- Do you have money saved for a down payment. Currently, FHA requires that a buyer must put down 3.5 percent of the sale price of a home to get a mortgage. By putting this money down up front will reduce the amount of the mortgage and lower your monthly payment, but will deplete your saved cash. Keep in mind that there are First Time Home Buyer Programs at will assist with a down payment, with having the buyer put as little as $1000.00 into obtaining a loan. Visit 10 Things to Consider When Buying Your First Home for information on obtaining a loan and Down Payment assistance.
#7 of 10 Things To Consider When Buying Your First Home- After you obtain a loan from a lender there is what is called the "Closing Cost", which is the money needed to close a loan on a home. Unusually, the closing cost, prepaids and non allowables ( Only Military) are between $3500 to $5800. I see $4200 to $5600 in most cases. Here is the good news, I have been able to negotiate all of the closing costs to be paid by the seller everytime, except three times--and there where special circumstances involved that where the buyers did not need all of the Closing Cost. Do you want your closing cost paid for? For more information on how to work a Colorado Springs Realtor who has been very successful in Real Estate negotiations and getting buyers their Closing Cost paid for visit 10 Things To Consider When Buying Your First Home !
#8 of 10 Things To Consider When Buying Your First Home- Home warranties are a grea insurance policy toward protecting yourself against future unknown home repair Expenses. Home warranties cover heating systems, water heaters, plumbing systems, Clogged drains, electrical , garage door openers, Air conditioners, Refrigerators, garbage disposals, sump pumps and more. Before I purchased a home warranty on rental property I spent $750 dollars on a sump pump that would have been covered had I purchased a home warranty. To receive a FREE 14 Month Blue Ribbon Home Warranty, mention this blog and close on a home with me as your Realtor. Visit 10 Things to Consider When Buying Your First Home and make sure you mention this blog.
#9 of 10 Things To Consider When Buying Your First Home- Utility Expenses. Make sure you contact the local utility company and ask what the average utility expenses have been over the last 12 months. The age of a home and the amount of insulation or energy efficient appliances and windows and drastically affect utility cost.
#10 or 10 Things To Consider When Buying Your First home- Driving distance from your new home to local schools, shopping, hospitals and your place of work need to be taken into consideration, before making a purchase. This will also affect the monthly fuel budget.
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