Sunday, August 26, 2012

Are You a First Time Buyer Looking for a Home?

If you're planning on buying your very home, you better make up your mind quickly as the housing industry at the current time is pretty low - you could say it's settled at the basement due to the economic slowdown which followed the massive recession.

Due to the lack of jobs and various other financial crises, many people have put their homes for sale on the market so that they would get some cash and settle down in smaller homes. Of course, this doesn't seem like the right thing to do, but if you want a cheap home, this is the only way to do it.

Are you buying your first home?

Well, if at all this is the first time you're buying a home or are involved in the process of buying a home; the entire process may seem overwhelming. However, there's nothing to worry about as there isn't a lot that you need to know.

First and foremost you're going to need the cash, so if you don't already have it sitting in your bank account you should go ahead and get yourself a loan as these processes usually take a few days you should plan in advance.

But before you get the cash ready, you would need to pick a home right? Therefore, go ahead and choose a good realtor - a person who knows their job and has the desired experience in the city you plan to buy a home.

When you hire a professional realtor you'd have all the help you need on your side. They'd go through all the houses that are up on the market and pick out ones that match your budget and other priorities. Therefore, the final list that they come up with includes houses that you'd be truly interested in.

As already mentioned, you're going to need to get the cash ready, so speak to your bank and find out what formalities you need to complete in order to get your loan approved. Note that you could approach any bank and it need not be your regular bank. So, look out for the best rate of interest and you're all good.

Have a professional inspect the home

Once you've shortlisted a few homes, make sure that you hire a professional to look up the house. They would go through all the rooms and let you know of any flaws that may be present. Therefore, by doing this you would be saving yourself on repair costs as you won't end up buying a house that's literally broken down!

1 comment:

  1. I think being overwhelmed doesn’t just happen to first time buyers but to all! This is understandable because buying a home can be a real headache. There’s a lot to consider especially if you’re looking at auctions. You have to be careful in choosing a home that you think will fit your family. You also need to learn about taxes and be financially prepared. It’s also good that there are companies today that are willing to help buyers get a loan and purchase a home easily. That’s one problem solved. :)

    {Fernando Bouley}