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Home Buyer Savvy |
Home Buyers who know what they want
won't waste their time and get discouraged by having to search for "possibles."
Instead, your energies
can go into locating the "perfect" (or almost perfect)
home at the right price with the right financing.
Just ask yourself a few personal questions and
bone up on some real estate facts of life. Such as:
1. Personal Matters (this list can go on indefinitely):
- How many and what kind of rooms are essential?
- How much commuting time is tolerable?
- What home styles are appealing?
- How much yard is absolutely necessary?
- What kind of view is desirable?
Neighborhood Matters
- How high are taxes? Are there any special assessments?
- What plans exist for future area development? How will it
affect the quality of life in this neighborhood
- What schools will my children go to?
2. Home Matters
- What does it mean when an attic has dark stains
on the walls?
(Wetness, no doubt)
- What do cracks in the foundation mean? (Uneven settling)
- What if beams are soft? (May be termites)
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2.
Home Matters Con't
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What kind of pipes are best? (Copper lasts longer than
cast-iron and won't rust)
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What are the heating
qualities and costs of electric & gas in this area?
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Are hardwood floors
essential? (Not always, particularly if you have
wall-to-wall carpeting)
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How do sidings compare? (Frame homes need
occasional painting; aluminum and vinyl do not. Brick
requires little maintenance. Stucco is best suited to
southern climates.)
Value: To
recognize value, compare prices and features. Depend on me, I
keep up with the always-changing market
3. Money Matters
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Budget: Know what expenses to expect besides the PITI
(mortgage principal and interest, property taxes and
insurance premiums). What will you have spent on utilities, maintenance
and other homeowners' costs (moving costs,
furniture costs, etc.)?
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Financing: Again, depend on
me for assistance. What kind of mortgage loan best suits
your circumstances? (Shop for a lender as knowledgeably as
you shop for a home. Interest rates, the number of points
& fee's charged vary.)
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