We’re in a buyers market right now. House buyers are in luck, most homes on the market are having trouble selling. If you’re looking for a new home, now is the time. Follow these tips and you’ll have a much easier time buying a new home.
The requirements. Each home is different and they offer different things. You have certain requirements, things you want from a home. List them and make sure any house you consider meets them, you’ll be much happier in the end.
Know your budget. Figure out how much you can afford to put as a down payment, this should account for 20% of the price, you can borrow the other 80%. There are many options for mortgages, but using the 20/80 ratio will keep you from buying more than you can afford.
Using a home inspector. A Home inspector can give you a heads up on any problems the house might have. Water damage, foundation leaks and even structural problems can be caught before you buy the home, potentially saving you thousands of dollars.
Prepare for future changes. The Boyscout’s moto “Always be prepared” is true when buying a house as well. Make sure the house you’re buying meets your needs, but also make sure it’s able to meet potential future needs as well. You never know when circumstances may change and there’s nothing worse than having to move out of a home you love.
Buy the neighborhood not the house. You can take the exact same house and place it in two different neighborhoods, that house will have two different values. Buy the house you love, but make sure it’s in a decent neighborhood, that is going to improve as opposed to degenerated.
Never make an offer right away. Always go home and look at all the options, compare the home to all the other homes you’ve seen, make sure it’s the best one. House buying is a slow process, take your time, you’ll eventually find what you’re looking for.
Be wary. Don’t believe everything in the advertisement, don’t believe everything the sellers or their agent tell you. Find out for yourself. They want to sell the home, you want to make sure you’re not getting ripped off, protect yourself.
Following this advice will help you make a better, more informed decision when buying a home. All house buyers should make sure to do their research and this article can help.