Google+

10 Easy Tips for First-Time Home Buyers

 

 

10 Easy Tips for First-Time Home Buyers

By Burt Carey

Buying a house for the first time is an exhilarating experience, and knowing which potential pitfalls to avoid will ensure that your elation continues for many years. Here are some tips to help make that happen.

  • Get your finances in order now!

First-Time Home Buyer, Read your contract, buying a house, long term, budgets, great tipsA clean credit report and saving for a big down payment are the two biggest keys to getting the best mortgage terms possible with the least number of extra fees. If you don’t know what your credit score is, you’re already slipping toward an abyss. Order a free copy of your credit report from the site www.AnnualCreditReport.com.

  • Understand the housing market

Wanting to buy a home and actually doing it are wholly different things. In most of the U.S today, there’s a shortage of houses for sale, and what is for sale is rising in price. You will be competing for purchases with people who have home-buying experience. Check with a reputable realtor to figure out a strategy that benefits you.

  • Get your financing pre-approved

Having your credit checked and a good FICO score is a great start. Now your best move is to use those assets and your income to get pre-approved by a mortgage lender. There are lots of mortgage options to choose from. As new home buyers, shopping around and finding the best deal for you will pay huge dividends before you sign a contract. Sellers like to know potential buyers are pre-approved, too.

  • Make a list, check it twice

Get with friends, co-workers and family members to find out the good, the bad and the ugly about their home-buying experiences, and then make a checklist list of everything you want, things you should inspect or items you should ask about while searching for a house. Make it a printable checklist so you have one for each house you see. Buying a house can be an emotional experience. The list keeps you grounded.

  • Think about the long term

If you’re planning to have a family, have relatives move in with you, or any other special arrangements, the houses you look at need to meet all of those needs. Think of your needs five to 10 years from now.

  • Is the house re-sellable?

That’s not a cheeky or flippant question. A house in a good school district will maintain or gain in value where one in a poor school district may not. You should also consider your community’s demographics and look at long-term trends. An urban area with young, upwardly mobile middle-class residents today may not look the same in a decade. You should definitely avoid buying in a neighborhood with a high number of rental properties.

  • What’s your real household budget?

Your monthly household budget doesn’t stop at the mortgage payment. Add to that insurance, interest, taxes, maintenance, utilities and remodeling/upgrades. Even the cost of commuting to work can be a burden if you fail to plan for it now.

  • See beyond a realtor’s fluff

Selling agents are marketing professionals who know how to set up a house for sale. But in their glitzy little staging schemes, you’ll find some peculiarities such as lamps positioned in places where there are no wall sockets. They put the fluff there to make it look appealing. It’s your job to ensure it’s functional, too.

  • Check out homeowners associations

After you buy a house is not the time to discover you’ve moved into a neighborhood with restrictive covenants that prevent you from following your own plan. Homeowners associations have evolved well beyond being arbiters of mere architectural design elements. Get a copy of the HOA bylaws and covenants before making an offer on a house.

  • Read your contract before signing it

There will be an attorney, possibly two, present at the closing meeting. You have hired these people to represent you. Real estate attorneys handle closings multiple times each week. You don’t. Read every document and make sure you understand all terms and conditions before you sign them. Don’t let an attorney or anyone else try to rush you through the process. If you read something you don’t understand, have them explain it to you.

Source:  Baret News

Entertainment

Top Ten DVD List for August 22, 2017

  This Week’s DVD Releases by Kam Williams Top Ten DVD List for August 22, 2017                       Nova: Poisoned Water [Flint, Michigan Expose'] https://www.amazon.com/exec/obidos/ASIN/B071HG59CK/ref%3dnosim/thslfofire-20 Guardians of the Galaxy, Volume 2 [Marvel Comics Superheroes … [Read More its Good for You...]

Books

Book of Black Heroes

  Book of Black Heroes Political Leaders Past and Present by Gil L. Robertson, IV Foreword by Myrlie Evers-Williams Just Us Books Paperback, $12.95 80 pages ISBN: 978-1-933491-21-9 Book Review by Kam Williams “The first African-American political leaders began to serve following the Civil War...Known as Reconstruction, this period … [Read More its Good For You...]

Art

The Day After the Day Of

  The Day After the Day Of by Paul Ilechko   The sky sheds its tears. This morning is the morning of the day after. The day of mourning, the day after the day of.  I beseech the sky to shed tears in order to wash away the tears on my face.   This is the first day of the time after. This is the beginning of a new time, the … [Read More its Good for You...]

Real Estate

Real Estate: Refinancing Rates on the Rise in 2017

  Real Estate: Refinancing Rates on the Rise in 2017 by Amy Lignor   The term ‘meteoric rise’ usually applies to something fun. Think: A Hollywood actor who has been ‘discovered.’) Unfortunately, when it comes to this article, ‘meteoric rise’ is something that will not bring a smile to one’s face. To put it simply, if you wish to refinance … [Read More its Good for You...]

Lifestyle

Nazis Coming to Your Town? Who You Gonna Call? The Klanbuster!

  Daryle Lamont Jenkins The “Charlottesville” Interview with Kam Williams Nazis Coming to Your Town? Who You Gonna Call? The Klanbuster! Since 1988, activist/journalist Daryle Lamont Jenkins, aka "The Klanbuster," has dedicated his life to monitoring the movements of the Ku Klux Klan and other white supremacist groups. In 2000, he … [Read More its Good for You...]

Outdoors

How Bassmaster Pro Edwin Evers Adjusts the Auto Settings on His Sonar

  How Bassmaster Pro Edwin Evers Adjusts the Auto Settings on His Sonar  by Edwin Evers When it comes to electronics, a question I get asked a lot is, “How do you customize your fish finder settings at the beginning of a day on the water?” The short answer is, “I don’t.”   You might think that a guy who makes his living with a … [Read More its Good for You...]

Sports

College Football Arriving Soon!

  College Football Arriving Soon! by Amy Lignor   Ask any college football fan and they will tell you that it seems like an eternity waiting for the season to begin. But, have no fear, the kick-off to the college season is almost here, with Colorado State and Oregon State hitting the field on Saturday, August 26th at 2:30 p.m. ET. On … [Read More its Good for You...]

Business

Book of Black Heroes

  Book of Black Heroes Political Leaders Past and Present by Gil L. Robertson, IV Foreword by Myrlie Evers-Williams Just Us Books Paperback, $12.95 80 pages ISBN: 978-1-933491-21-9 Book Review by Kam Williams “The first African-American political leaders began to serve following the Civil War...Known as Reconstruction, this period … [Read More its Good for You...]

Travel

Going Back in Time on the Ultimate Steamboat Vacation

  Going Back in Time on the Ultimate Steamboat Vacation by Amy Lignor   Many people love taking a cruise. But it is the river cruise on that glorious steamboat that not only offers all the benefits a big ocean liner offers, but also creates a more personalized, intimate vacation experience. It is a unique recipe: being able to witness … [Read More its Good for You...]