THINGS TO REMEMBER BEFORE YOU BUY
Before you purchase a new home, you'll want to keep a few things in mind. For example, are you just out of college and looking for a starter house before you move on to a new city or a larger home, or are you a married couple with children looking for a home where you can set down permanent roots? Buying a house is a big decision, and your future plans are definitely factors you'll want to consider before buying a new home, as well as pricing and other financial considerations. Especially with the current economical landscape, you should be aware of what to expect before, during, and after the home purchasing process.
Do your research. From finding the right real estate agent and loan representative, to choosing the right neighborhood and home inspector, researching every step in your journey to home ownership will come in handy. Doing your research will help you to make more informed decisions, and breaking the steps up into parts will prevent you from becoming too overwhelmed by the process. Being educated and knowledgeable about the process will help you have the most bargaining power possible - saving you money (and headaches) during a time that should be exciting and new.
Be modest about price range. Don't fall prey to purchasing a house you can't afford. Are the mortgage payments a bit of a stretch or will you be able to make them and still maintain your current lifestyle? Don't allow anyone to talk you into buying a house you can't really afford, no matter how perfect the neighborhood, or how much you've always wanted a two story Cape Cod with a picket fence and pool. Buying a house that's within your price range will allow you to be able to fully enjoy it without having to worry about how you'll be able to come up with your mortgage payment. A good rule of thumb: your housing payment shouldn't exceed more than 35 percent of your gross income. And don't forget to factor in the additional cost of homeowner's insurance, property taxes, home maintenance, and homeowner's association dues, if applicable.
Bargain and compromise. Especially with the real estate market in the shape it is, don't be afraid to do a little bargaining with the homeowner. It never hurts to ask, and you just may find yourself saving thousands, or walking away with a few extra perks. Remember too that little details like ugly carpet in bedrooms aren't worth turning down an otherwise great house. Too many home shoppers get caught up with little aesthetic details that are actually quite simple to replace or alter. You may even be able to save quite a bit of money by living with some outdated wall colors, light fixtures, and other furnishings - until you can afford a remodel.
Remember, for all your real estate needs, call Catherine.
Sincerely,
Catherine Bennison - Realtor Associate
Keller Williams LA Harbor Realty
Direct: (310) 707-2162
Cell: (310) 748-7889
Fax: (310) 519-1882
E-Mail: CBennison@KW.com
Website: www.CatherineBennison.com
DRE# 00946724
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