This is the best time in history to follow the crowd and invest in real estate. Real estate is currently very profitable, and with historically low interest rates available, it requires little initial investment. Taking this advice will get you on the path to nearly guaranteed profits.
Be pre-qualified for a mortgage loans before looking at houses. It is very discouraging to find the perfect home only to find you can?t get a loan for it. Another reason to pre-qualify is that the loan approval process can be lengthy, so it?s best to be ready.
Although the bank does not require a home inspection sometimes, you should still have one done anyway. A qualified home inspector can reaffirm that you are or you aren?t making a good purchase by buying a particular property. There are lots of home problems that may be hidden to the uninitiated, but a professional home inspector will spot them right away.
Collect data about your local housing market. You need to search through websites that provide a list foreclosures locally, median selling prices and the length of time that it takes for the average home to sell in your area. You can also use this opportunity to check out the location?s job opportunities, crime rates, etc. The goal, of course, is to find an all-around great location to live in.
Take a moderate approach to negotiating a real estate purchase. Overly-aggressive bargaining tactics often backfire. Instead, offer a fair market price and let your Realtor do the negotiating.
You should understand how mortgages work prior to buying a home. Understanding how the mortgage term will affect your monthly mortgage payment, as well as how it will affect the total cost you will pay over the life of your loan, will help minimize later confusion.
Hire your own professionals when purchasing a home. It can be tempting to use the appraisers and house inspectors that the seller has chosen. No one wants to spend money on services that can be had for free. Nevertheless, you can benefit greatly from hiring your own professionals who are trustworthy and will be working for your best interests. Knowing you can rely on the advice you get will give you much peace of mind, and can save you quite a bit of money over the long term.
Get a warranty for your home from the seller. When you buy a new house, whether from a previous owner or the builder, ask for the warranty. A builder should be proud to stand by his work for a time. The people who previously owned the home should agree to buy a warranty for a year at minimum to assist you in offsetting any possible repairs.
Those who are wise and jump into this swirling market should follow the above article closely. It will help you avoid trouble and walk away with real estate that is under-priced and growing constantly in value. The key is to purchase the property and hold until the time is right before you make your big move.
from your own site.
Source: http://www.abc-real-estate.com/2012/09/buying-your-dream-home-does-not-have-to-be-scary/
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