Your Ad Here

Sunday, December 28, 2008

10 Tips for first time home buyer

1. Be picky but be realistic. There is no 100% perfect home.

2. Do your homework . Decide specifically what features you want in a home and which are most important to you.A wide spacious living room?masterbed room?or others.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and your closing costs.Disscuss with a trusted financial advisor or loan officer.

4. Don't wait to get a loan. Talk to a lender and get pre-qualified for a mortgage before you
start looking.Select a good agent.Good agent will help in this.

5. Get opinions but not too many. Be confidence to yourself. Select one or two people to turn to if you feel you need a second opinion.

6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?

7. Think long-term. Are you going to stay in this house for a short period of time or for long term wise?It relates to Mortage terms.

8. Don't let yourself be "house poor." Buy a house which you can afford. So you got enough money for furniture,decoration and home upgrades.

9. Be matured. Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.

10. Get assistance. Make sure that you are represented by a licensed REALTOR as a buyer's agent. Unlike a listing agent, whose first duty is to the seller, a buyer's agent is working only for you. And most often, buyer's reps are paid out of the seller's commission payment.

No comments:

Post a Comment

Your Ad Here