Things to Consider When Buying a Columbia SC Home

There’s never been a better time for buying a Columbia SC home than right now. Mortgage rates hit a new record low almost on a weekly basis of late, and home prices may have already bottomed and be starting on their way back up. Waiting much longer could mean higher Columbia SC home prices, and interest rates could stop dropping and head back in the northerly direction.

Use Caution When Buying a Columbia SC Home

If your current employment is in jeopardy, be cautious about signing on the dotted line for a mortgage. Once you sign, you’re responsible, no matter what happens. If you buy a home and commit to a mortgage, then lose your job, that’s how people end up in short sales or foreclosures.

Before starting to look for a Columbia SC home, be realistic and patient about what’s available. Inventory of homes is down, and finding that perfect home to fit your needs may take some time.

Also before you begin your home search, use an online calculator to determine your price range for purchasing a house. The debt to income calculator will take your current income and your debts and then calculate the payment that you can afford. You will then have an idea of what price you can afford to pay for a home so you don’t waste your time looking at homes you cannot afford.

Before choosing a neighborhood to settle down in, check the national data base for sex offenders living in the area you’re considering. All states provide public sex offender information, but that doesn’t mean that a seller or even a real estate agent is going to tell you if an offender lives in the neighborhood. Research it yourself for peace of mind.

When making an offer on the Columbia SC home you’re interested in, ask the seller about any financial incentives they may be willing to offer, like helping with closing costs. Some sellers may not want to give you a price break on the home if you ask for financial perks, so don’t be greedy. If you need help with the closing costs or down payment, don’t try to low-ball your offer price.

Buying a Columbia SC home can be a daunting experience, but if you do your research and use some common sense, you’ll find the right home at the right price.