6 Little Known Tips for First-Time Homebuyers

1
Lesser-Known Tips for First-Time Homebuyers
First-time homebuyers have a lot of things to
take into consideration when purchasing a home.
For most of them, its the American dream.
Sometimes, a busy schedule and lack of experience
cause people to overlook some things that may
cost them financially in the long run.
2
30-Year Mortgage
A 30-year mortgage is NOT the only way to pay for
the home. Look into home-buying grants and other
types of government and private funding for
first-time buyers. Grants do not have to be
repaid, and they reduce the total purchase price
of the home and lower the required down payment.
Also, investigate buying the home on a short term
(e.g. 10, 15, or 20 years) to save money on
finance charges and closing costs.
3
Longevity, Suitable for Resale
A good home has longevity and is suitable for
resale. The condition of the home, its features,
and its location are all determinants of whether
or not it is a solid investment. Decide if the
home is where small children and elderly people
would live if raising a family is part of plans.
4
Visit the Home Fewer Times Before Signing
Visit the home at least twice BEFORE signing, and
make notes each time. Hidden dangers may be
lurking behind the walls and floors like leaks
and cracks that worsen over time, so making notes
on each visit is a good way to keep the condition
of the home up to date. Also, try visiting the
home at different times of the day (e.g. nights,
weekends) if possible.
5
Rules and Regulations
Read the homeowners association rules and
regulations. The home buying terms are not the
only things to take into account when purchasing
a home. Depending on the area, the homeowners
association is the governing body for residents
and may have very strict rules about pet care,
occupancy limitations, waste removal,
landscaping, etc., so reviewing the contract
before purchasing is advisable.
6
Household Budget
Figure out the entire household budget before
buying to avoid money problems later. Anxious
first-time buyers are usually so focused on
raising capital for purchasing their homes that
they forget to set up the monthly budget. The
best idea is to organize the household budget
beforehand and make contingencies for emergencies
so that finances are distributed accordingly. Ask
the seller about estimated utility costs per
month, visit the area stores for costs of
consumer goods, and check into association dues
and fees before including these items into
monthly expenses.
7
How Know about Neighborhood
Ask around. Learn about the neighborhood, the
association, and the seller from homeowners,
businessmen, law enforcement, and other
first-responders. Even the neighborhood fire
department has a record of area occurrences
(fires, natural disasters, etc.) for potential
buyers.
8
First-time homebuyers need to feel secure in
their home investment, so taking the extra time
and effort to look into the smaller details will
help them become more knowledgeable, saving them
both time and money in the future.
9
Irvine Residential Living
If youre looking at houses or condos for sale in
Irvine, it is a really good idea because Irvine
is family friendly, it has great schools, and
offers lots of fun activities. Homes for sale in
Irvine feature the latest in designer upgrades
and open floor plan concepts, with everything
from older single-story homes to large
multi-level estates available to Irvine Real
Estate buyers. It is essential to work with an
experienced real estate agent to choose the best
from Homes for sale in Irvine, and our highly
professional agents at Irvine Residential
Living are ever-ready to help you out.
Phone [phone]
Location Costa Mesa, CA 92627
Web http//www.irvineresidentialliving.
com/
Thank You For Viewing the Slideshare )