Buying A New Home Survival Tips
The time has come and you are now ready to buy a new home. The purchase of a new home will by all likelihood be the largest investment you will make in your lifetime. So why rush in to a decision that will affect you financially for 30 or more years. Even if you sell your home within 5 to 10 years, the type of mortgage you obtain will have a large affect on the equity in the home.
Before you start your search for a new home, you should ask yourself (and be honest) how much you can afford to put toward the purchase of your new home.
A lot of factors are part of the decision making process of what you can afford when making a home purchase. The most important factors are: income, debt, down payment, and the term of the loan.
When you are ready to proceed with your home purchase, you should never just blindly start filling out multiple credit applications. Rather, you should get a copy of your credit report from an online provider. With your credit report in hand, begin talking with lenders about interest rates, terms, etc to find a lender that is right for you. Shop around and compare lenders before moving forward.
Unless you have experience in the real estate industry, dont think you can go at this alone with no assistance. Real estate professionals with years of experience and knowledge about real estate transactions who can help you make your transaction run smoothly. Use their experience to your advantage. Yes, you may have to pay some fees, but these fees pale in comparison to making a mistake that you will have to pay for over the next 30 years.
Ok, I am not saying you should let them handle every detail of the transaction. You need to ask a lot of questions and remain in full control of the details about your transaction.
Nearly all agents are paid a commission for their work on the real estate transaction. They have a vested interest in helping you purchase your new home. - 23217
Before you start your search for a new home, you should ask yourself (and be honest) how much you can afford to put toward the purchase of your new home.
A lot of factors are part of the decision making process of what you can afford when making a home purchase. The most important factors are: income, debt, down payment, and the term of the loan.
When you are ready to proceed with your home purchase, you should never just blindly start filling out multiple credit applications. Rather, you should get a copy of your credit report from an online provider. With your credit report in hand, begin talking with lenders about interest rates, terms, etc to find a lender that is right for you. Shop around and compare lenders before moving forward.
Unless you have experience in the real estate industry, dont think you can go at this alone with no assistance. Real estate professionals with years of experience and knowledge about real estate transactions who can help you make your transaction run smoothly. Use their experience to your advantage. Yes, you may have to pay some fees, but these fees pale in comparison to making a mistake that you will have to pay for over the next 30 years.
Ok, I am not saying you should let them handle every detail of the transaction. You need to ask a lot of questions and remain in full control of the details about your transaction.
Nearly all agents are paid a commission for their work on the real estate transaction. They have a vested interest in helping you purchase your new home. - 23217
About the Author:
Hubert Miles is the founder of Waterfront Houses USA, an online marketing service that provides Oceanfront House and Ocean House available in the US and Canada.
posted by X - Men @ 4:47 AM
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