home buying tips
What you should put into a real estate sales contract to protect yourself, and why you shouldn’t overdo it…
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There is no better time than right now to think about buying real estate since we are currently living in a buyer`s market. If you want to find a home in your price range while saving time, a considerable amount of money and the hassles involved, then it is best to use the assistance of a real estate agent. If you need help in the process of buying a home there are many reasons why you should hire a real estate agent.
Determining your budget, requirements and needs on your own might prove to be a difficult task. It is much easier to consult a real estate agent who can easily help you figure out the house you might be looking for and understand how much you will be able to spend on it. When searching for a house you need to consider things such as the number of bedrooms, bathrooms, central heat and air, pool, second floor and a lot of other considerations.
The market and the prospective areas have both been appropriately studied by a good real estate agent.
For first time buyers using the help of a real estate agent, it becomes easier to find comfortable and manageable homes with good school districts nearby or away from busy streets if you have a family. They are fully trained and skilled at finding homes which would not only fit your personality and needs but also homes that can be bought at great prices.
If you really want the best deal, hiring your own real estate agent can definitely help you get it. Right up until the moment when you are comfortably enjoying your new house you will find them by your side. Not only will they walk through many homes with you, but will also be capable of inspecting and pointing out any problems in a house.
When buying real estate with the help of a real estate agent you will also receive lists of potential properties to go through which meet your requirements and even line up home tours as well.
All you need to do is decide what your personal requirements are and then rely on them to handle the rest of the home shopping. They will also make sure everything is worked out around your schedule.
Apart from helping in buying real estate, these agents can assist in a variety of other areas as well, such as helping you find home financing. Purchasing a new home is an exciting experience which can be further enhanced by hiring a good real estate agent.
When buying your first house, first contact a local real estate agent to assist you. Buy your first house with confidence and savvy using the real estate tips in this video…
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In this Issue:* Warning Signs To Watch For In a Home 6 Tips to Sell Your Home Faster Housing Crisis: A Sign The Worst Is Over
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Home buyers, especially first-time home buyers, often get caught looking at the wrong things when they buy a house. They fall in love with all the things that are easy to fix, and never think to look at the really important clues that the house might be more trouble than it’s worth. So, what should you look for to make sure you’re not buying a lemon?
1. Check the Foundation
The home’s foundation is probably one of the most expensive things to fix, which is why you need to go down to the basement before you even look at the rest of the house. Do you see any cracks in the concrete or stone? If so, the foundation might be structurally unsound. If the basement is finished, then look for cracks in the drywall, especially around windows and doors. If the home is on a crawl space, be sure to have an inspection done of the inside of the crawl space for cracks and other signs of an unstable foundation.
2. Check the HVAC Equipment
While you’re down in the basement, look at the heating and cooling equipment. How old is it? Does it look like it’s running properly? Are the vents connected well? These are important questions to answer in order to make your home energy efficient and ensure that your utility bills don’t go through the roof (figuratively speaking). Replacing a home’s HVAC system can cost tens of thousands of dollars, but many first time buyers never give it a second look.
3. Look for Water Damage
If the house has had problems with water in the past, you’re looking at several expensive fixes. First, what happened once (like a leaking basement) can easily happen again. Second, that water damage could have opened the door for mold, especially dangerous black mold, to start growing. Look for brown or white stains down the side of the basement walls (which would indicate a past leak). If the floor is bare, then look for horizontal stains. Be suspicious if the basement has been freshly painted. Sellers often do this to hide water damage stains. It’s also important to check the bathroom, and under the kitchen sink. Look for stains that would indicate mold growth.
4. Check the Electrical System
If the home you’re looking at is pre-1930’s, it might still have the old knob and tube wiring. Knob and tube wiring is relatively safe as long as it hasn’t been tampered with in any way. For instance, if the house has blown insulation in the attic sitting on top of the knob and tube wiring, this is tampering (and it’s a serious home fire safety hazard). Most insurance companies consider knob and tube wiring to be unsafe, so you’re going to pay more for homeowner’s insurance coverage (if they’ll even insure you at all) if you don’t replace it. Replacing it means rewiring the entire house, which can easily cost tens of thousands of dollars.
5. Never Buy a Home You’ve Only Looked At Once
Remember, when you first see that “perfect house”, you’re looking through rose-colored glasses. Always sit on the decision to make an offer, and go see the house again a few days later.
6. Always Get a Home Inspection
Seems like old advice, but plenty of people still don’t get a home inspection done before they make an offer. If the home inspector says more research is necessary, or their report is inconclusive, then get a second opinion.
7. If the Price Is Too Good to Be True, It Probably Is
Trust your gut here. If your dream home’s price is suspiciously low, there’s probably a good reason. Beware. Buying a house is a huge decision and investment, especially if it’s your first. Don’t be so easily swayed by first impressions and appearances. Make sure you do your research and watch out for some of the pitfalls mentioned in this article.