6 Home Buying Considerations Other Than The House

We often focus on the bones – of – a – house, when deciding whether to purchase a particular residence, but, while that’s essential, an educated home buyer, recognizes and realizes, there are other relevant considerations, as well. In fact, before one, should even view and/ or consider a particular house, he should thoroughly consider these factors, to ensue he will also be happy, and satisfied, living there. With that, in mind, this article will attempt to briefly, examine, review, and discuss, 6 important home buying considerations.

1. Location/ convenience: A central premise in real estate, is, Location, location, location. The greatest house, in a less – than – optimal neighborhood, and/ or area/ location. serves very little positive, productive purpose! Some of the factors included in this sub – topic, include: Does it meet your personal needs?; Does it simplify or complicate your life/ existence?; Are the things, you personally, prioritize, readily available, and convenient, in this location?

2. Safety: Check the safety statistics of the areas, you are considering. What are the crime rates, relative to other alternatives? How safe does the area make you feel? Will your house be safe, largely free – of – crime, and is there, little crime, vandalism, etc, in this vicinity? Who wants to live somewhere, where he feels unsafe, and/ or insecure?

3. Education: Whether you have school – aged children, or, simply, want to assist your future ability to re – sell the house, the local school system, must be, both, actually, as well as perceived as, being superior, and above – average! If you have children, you want them to get the best education, possible, from the local schools, wouldn’t you?

4. Transportation: Since many individuals commute to work, the ease, quality and/ or convenience of mass transit, is often a relevant factor. In addition, how easily can one get to places of interest, including shopping, the arts, etc?

5. Shopping: Most people want their essential shopping, to be as easy and simple, as possible! Especially when this comes to food shopping, pharmacies, and conveniences, individuals would rather, not have to go out of their way, to do, what they feel, most essential.

6. Specific neighborhood: Even within the same, basic area, there are often significant differences, from neighborhood, to neighborhood. Where I reside, some people live uptown, while others prefer living near the water. Depending on one’s personal priorities, and preferences, this often makes, a significant difference, in where one wants to live. Speak to some of the neighbors, and determine, if you’d like to live there!

Using these 6 home – buying considerations, often, help people determine the best place, for them, to live. Will you do what’s in your personal, best interest?

Before Buying A Home, Know Where You STAND!

Since, for most of us, the value of our home, represents our single – biggest, financial asset, wouldn’t it make sense, to be certain, we proceeded, forward, in the best, most logical manner? This means, knowing, and understanding, our needs, goals, and objectives, in terms of our finances, personal comfort zone, needs, goals, priorities, and what we seek, need, deserve, desire, and want, in the house, we purchase. Potential homeowners should carefully examine, and ask themselves, where they STAND, and whether, the so – called, American Dream, is for them. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and how it might make one, pursue their quest, in a personally, wiser, and more satisfying way.

1. Schools; shopping: Not only, do most of us, want to provide the finest education, to our families, it’s important to recognize, the direct correlation, in most cases, between quality, local educational resources, and maintaining property values! It’s also important, at times, to consider, school taxes, and their impact on affordability! Another key consideration, to many, is convenience to shopping, especially for food, and certain others, essential conveniences!

2. Transportation: How important is convenient access to mass transportation, to you? Are the trains, buses, and highways/ expressways, meet your needs, and make your life easier, and more stress – free?

3. Area: Before buying any house, walk around the neighborhood. Consider, whether, the specific location is appealing, and what you like, and/ or, dislike about the neighborhood. Examine the specific strengths and weaknesses of the area, and see if it meets your primary, and key needs, and priorities. Is it safe, convenient (in terms of your primary needs, such as transportation, ease of commuting, shopping, Houses of Worship, etc), and someplace, you want to live?

4. Needs: Closely examine your needs, both, currently, and into the future, and see if the specific house, meets your immediate, as well as longer = term needs, and necessities!

5. Determine: Are you capable of looking at a potential home, without letting your emotions, dominate your logic? Can you, effectively, and efficiently, determine, what might be, the right house, for you, and your family? What do you feel comfortable with, in terms of downpayment, monthly costs, maintenance, and your personal job security? Take the time, to determine, if it’s a good – fit, for you?

Take your time, and make the wisest personal decision. Identify your personal preferences, and proceed, in a head/ heart balance, so you clearly know, from the onset, where you STAND!

A 5 – Step Plan To Prepare To Buy A House

Although, owning a home of one’s own, is often considered, a major component of the so – called, American Dream, wouldn’t it make sense, to effectively, plan, to ensure this doesn’t become a nightmare, instead? After, over fifteen years, as a Real Estate Licensed Salesperson, in the State of New York, I have created, what I, often, refer to, as the RICH IDEAS, for proceeding, wisely, in terms of buying a house. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, a 5 – step plan, for properly, effectively, wisely, being prepared for this process, and proceeding accordingly.

1. Put together/ accumulate sufficient funds, for a variety of requirements and necessities: It’s smart to proceed, as well – prepared, as possible, from the beginning. Well – before, you start searching for a house, begin saving money, in a systematic way. Remember, you will not only need funds, for the down – payment (often, but not always, 20%), but, also, funds for other Closing Costs, including, but not limited to, pre – paid real estate taxes, utilities, and other, so – called, escrow items. In addition, most lending institutions require a demonstration, and proof of funds, equal to several months, of mortgage payments.

2. Obtain a copy of your Credit Report (if husband and wife, get both): You are entitled, once per year, to request a free copy of your Credit Report, from one of the major credit organizations/ companies. Review this document carefully, and correct any errors. If your rating is not, as high, as a lending institution may seek, begin to take steps, to enhance and improve it, sooner, rather than later!

3. Pay – down other debt: Lending institutions use formulas, to determine one’s qualification, to receive funds. These are generally, focused on, one’s percentage of debt to income. Therefore, pay – down your other debt, prior to beginning the process!

4. Don’t add any other debt: Avoid acquiring any more debt, regardless of how convenient, and/ or, appealing, it may seem, at the moment. Don’t fall into the trap, of, accepting new store charge accounts, because doing so, may compromise your credit worthiness, when you seek a mortgage!

5. Shop for homes, within your means: Avoid the trap, of becoming, house – rich, and seeking to purchase a home, beyond your comfortable means! Know, how much, you can afford, comfortably, and securely, so you choose, wisely, and remain, comforted!

Since, for most of us, the value of our house, is our single – biggest, asset, doesn’t it make sense, to proceed, carefully, and wisely? Will you be up to this task?

Why Will You BUY A Home?

Although, we consider, owning a home, of one’s own, to be a major component of the so – called, American Dream, few consider, why it is, and whether, it is relevant, to their personal dreams, needs, and best – interests! Before anyone should begin the process, the first thing, to do, should be, to realistically, consider, their personal reasons, and why, they want to BUY a house. This should be a realistic, thorough, process, which includes, many relevant factors, including, but not limited to, their personal needs, goals, priorities, and perceptions, financial capabilities, family issues, employment factors, transportation considerations, safety, schools, and how, one house, might benefit them, to a greater degree than others. With that in mind, this article will attempt to briefly, consider, review, and discuss, using the mnemonic approach, what this means and represents, and why it matters.

1. Best; better; benefits; beliefs; bringing: Where we live, often, depends, on what, it seems to be, bringing, to us! Our personal beliefs, are a significant factor, and, thus, we must consider, if living somewhere, might make our existence, better, and happier/ more satisfying! Isn’t the goal, of most of us, to do, whatever, we can, to become, the best, we can possibly become? The essential combination of thoroughly considering our true needs, and the best way, to address them, must be one of the keys, to whether, we should buy, a home, of our own! Never forget to realistically, consider, factors, such as affordability, self – image, schools. safety, and whatever, your personal priorities and perceptions, might be!

2. Useful; unique; uses; urge; usual/ unusual: Buying a home, must serve, both, your usual, as well as unusual, needs, goals, and priorities! What urges, might, doing so, address, and meet? When considering, one potential house, versus another, what unique characteristics, and/ or attributes, are most important to you, and why? How will you use/ utilize your home, and why will doing so, be helpful, meaningful, and useful?

3. You; your: How will a home, of your dreams, meet, and/ or, exceed, your personal needs, and expectations? How will you make, your residence, your own? Why will doing so, benefit you, in a realistic, viable, relevant manner? Before making any decision, it’s important to seriously consider, how. your dream house, might make your life, more self – satisfying, and happier?

Before making the decision, and commitment, to BUY, a home, of your own, will you consider, your personal reasons, and why, you believe, it’s a good decision, for you! Are you up to the task, of doing so?

What to Inspect Before Buying an Older House

Homes have changed over the years along with the standard in which the homes are built. Some conditions change over the years because the level of knowledge has increases over the years as building science is studied. Some conditions are the result of past or current home owners that alter the condition or add items to the home. Here are some important areas to inspect or have inspected if you are buying an older home.

Attic and the roof system is an important system to inspect. The attic space and the roofing effect each other and if correct they will help extend the life of each other. Older homes may have less insulation than is recommended by modern standards. Having the proper amount will help the home owner reduce heating and cooling bills.

The amount of ventilation in the attic space is also important, too little ventilation can result in high attic temperatures which will age the shingles more rapidly. A lack of ventilation can also create a condition where moisture is trapped and condensation is formed. High moisture levels can aid in the growth of mold, reduce the effectiveness of insulation and create a conducive condition for wood destroying insects. Home owners will also improperly vent shower vents in to the attic space exaggerating the moisture issues.

Electrical systems should also be inspected. Older homes especially those built before the 1960’s have a chance of having two prong outlets instead of the modern three prong outlets. The size of the service can also be an issue. Amperage for older homes may not be enough when additions are added onto the home and electrical appliances are added to the home.

Energy efficiency has made great improvement over the years. Old gravity furnaces made still be operating (yes I have come across them) however, the gravity furnace is not an energy efficient appliance. The cost of replacing such a furnace will be well worth the expense as the energy savings will be more than enough to recoup the cost. Energy efficiency has also improved for other appliances such as refrigerators and air conditioners. Although determining the efficiency of appliances is not in the scope of a normal home inspection you can be fairly certain that any appliance over 15 years old is not the tops when it comes to being energy efficient.

Other areas that will be looked at that are done during all home inspections include the grading and the gutters and downspouts. These areas can effect the foundations and moisture issues. These should be inspected during all home inspections, however with increased age they are more likely to be in need of repair or improvements.

What Is The Real COST Of Buying A Home?

Since, owning a home, of one’s own, is, often considered an essential component of the American Dream, and, for most people, the financial value of their house, represents, their single – largest, financial/ economic asset, wouldn’t it make, far more sense, if serious, potential homeowners, proceeded, with their eyes – wide – open, and began, their process, as well – prepared, as possible? Although, most people, realize, preserving/ protecting their credit, accumulating the necessary funds, for all the down – payment, and other closing – costs, are needed, they often, overlook the real COST of buying a home! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why it is an important, relevant consideration.

1. Credit; closing; choice; create; coordinate: Before one begins the search, he should carefully examine, and review, his Credit Report, correcting any errors, and addressing areas of weakness! You can, either do this, yourself, or hire a consultant, but, don’t proceed, until, you’ve done this! Not only is securing a mortgage, a necessary aspect of the buying process, and one needs, the credit, to secure this loan, often, the difference between obtaining the lowest rates, and, higher ones, depends on the overall rating! Examine your choice of a house, and why, it will serve your needs and requirements! If you create a positive, mindset, you will prepare to effectively, coordinate your efforts, towards a far more, stress – free, closing!

2. Options; open – mind; opportunities: Buying a house, is a meaningful, relevant process, and it is wise, to carefully consider the options, including the specific choice, the potential opportunities, etc, and proceeding with a well – considered, open – mind, in order to better understand all related costs, expenses, etc.

3. Systems; serving; solutions; strengths: Before committing to a specific property, hire a professional engineer, and/ or, home inspector, to provide, a thorough, review of the overall condition, including strengths, and weaknesses! Differentiate between major and minor issues, and understand, whether the so – called, bones of the house, are strong, etc! Only buy some place, which effectively, serves, your needs, both, present, and, into the foreseeable future, and consider, whether the particular house, provides relevant, sustainable solutions, to your needs, and priorities!

4. Trends; taxes; time – tested; timely: Recognize relevant trends, both, in terms of the particular property, as well as financing options, and proceed wisely! Use the time – tested ways, to evaluate, including, a financial review, of all the related, real estate taxes/ fees, etc, as well as potential, unforeseen expenses, etc. Once you’ve made a wise decision, proceed in a well – considered, timely manner, and be prepared!

Don’t ignore the true COST of home ownership! Will you be a wise buyer?

8 Essential Considerations Before Buying A Specific House

Since, for most Americans, their home, represents, their single – biggest, financial asset, wouldn’t it make sense, for these individuals, especially, first – time, homeowners, to proceed, in the finest, well – considered, manner, in order, to find, what they need, can afford, meets their objectives, etc. With that in mind, this article will attempt to briefly consider, review, examine and discuss, 8 essential considerations, which should be thought about, and pondered, before purchasing their new home.

1. Property required: Fully consider, the overall size of the property, you need, and require! Remember, the larger the property, the more expensive and involved, it will be, to maintain, etc! It’s not merely the size of the property, but, also the usability, of it, which means, is it a cleared lot, as well as whether it is level, and will meet your personal needs, and requirements. Are you ready to perform, all the necessary maintenance, and up – keep, or can you afford, to pay someone else, to do it for you?

2. Overall size of the house: What size house do you need? How big, is too large, and how little, might be, too small? Is there any correlation between what you aspire for, versus, what you can actually afford, and really, need? It’s important for potential homeowners, to arrive at the ideal balance, for their particular situation!

3. What can you afford? Don’t make the mistake of becoming house – rich, and otherwise, poor! Consider your present and future earnings, what you can afford and qualify for, up – front, as well as on a regular, monthly basis! Are you prepared for contingencies, in order to achieve happiness, from living there?

4. Comfort level: Consider your personal comfort zone, and what that level, means and represents, to you! What do you seek, and will it meet the combination of your physical and emotional needs, and requirements?

5. Bedrooms needed: How many bedrooms, do you presently require? What do you believe, your future needs and requirements, might be? Do you anticipate having overnight guests, and thus, need extra space, for those requirements? A house will not serve you, if it doesn’t meet your needs!

6. Kitchen: Consider the size, shape, design, potential, cabinets, and appliances, as well as what you can afford, versus your needs. For most, they spend much of their time, in, and around, their kitchen!

7. Living areas: Look at the house’s flow, and whether the living areas (actual, as they exist, as well as its potential), meet your present, as well as perceived, future needs. The living and socializing areas of your house, often make a huge difference, in whether you are truly satisfied, living there!

8. Bathrooms: How many bathrooms, do you need, and how many, might you like? Describe them, in your head, and consider, the possibilities and potential, as well as costs.

Before one buys a home, of his own, it is important to evaluate and consider, whether living there, will meet, and exceed their needs, and expectations. When buyers take the time to do so, they generally are happier with their decision and selection!

5 Tips for Buying a House

Buying a home can be nerve wrecking and thrilling at the same time. This is especially for a first time home buyer. It is also difficult to know what exactly one should expect. The learning curve is obviously steep but the issues can be resolved by simply doing some homework on it. Some important tips have been explained as below.

1. Evaluate your credit

Your credit score is extremely important because it can be helpful for you to qualify for the loan. The standards are also higher in terms of what score you actually require and how exactly the cost of the loan is going to affect you.

2. Evaluate your liabilities and assets

This should be done so that you don’t owe a lot of money and all your payments are processed up to date. However the exact manner in which you spend your money must be taken into consideration. Any first time homebuyer should have a very good idea of what is owed and what is exactly coming in. Understanding a little bit about the monthly cash flows can also help you.

3. Organize all your documents

While you are applying for a mortgage, you must document all your taxes and incomes. Buying a home can take a long period of time but exactly knowing what you require and where you have to find it can help you to save time whenever you are ready.

4. Qualify yourself

As any first time homebuyer, you should know how much you can exactly afford to spend before any mortgage lender tells you how much you can qualify for. There is however no ratio of fixed debt to income that the lenders might require, but the old standard can dictate that not more than 28 per cent of the gross income will be devoted to housing costs.

5. Your down payment must be figured out

It takes a lot of effort to scrape together your down payment. There are also a variety of programs that can assist the buyers with qualifying situations and incomes. You can also speak with all the mortgage lenders when you are beginning the process. Check with all co-workers, friends and neighbors to find out the lenders they have enjoy being associated with. Take their advice to how to go about with it as it can help you to simplify the process. It is one of the important things to remember.

How to Buy a House With Cash

Owning a home is something almost everybody wants do at some point in their life. Nothing can compare to knowing that the home you live in is yours, and you can do what you want with it. No paying rent, no answering to a landlord, none of that…

While it is pretty great to own a home, many people take a hasty decision by taking out a massive mortgage on their home rather than pay for it up front. This is understandable because not many of us have $100,000 laying around that we can buy a house with.

But, for those who choose to save up the money and buy their home with cash, the rewards are plentiful. Not only is it cheaper, but it will save you from being chained to the bank on a lengthy mortgage plan that you might end up wanting to opt out of before its even paid off.

Let’s take a look at how you can avoid a mortgage and buy your next home upfront, with cold hard cash.

Frugality is the Name of the Game

While it’s very likely that everybody would buy their home with cash if they could, hardly anybody does. This is because most people just lack the discipline to save up.

Now, if you make 20-30 thousand dollars a year, you’re going to be waiting a long time to buy your own house, even living on the bare minimum.

But, if you are someone who makes 50 thousand or more per year, or you also have a spouse who makes just as much as you, it is very possible for you to buy your own home with cash, in a couple years.

If you can manage to save just a couple thousand a month for a period of 5 or more years, you’ll be right in range to buy a nice house all by yourself.

Benefits to Buying With Cash

The benefits to buying your home with cash are usually not afforded to those with a hefty mortgage to worry about. For instance, without a mortgage payment, you can plug more money into your retirement plan, thus bringing about your retirement earlier, or having more money to blow when it is time to call it quits.

You can also invest your extra cash into some kind of money making scheme, like the stock market, startup companies, or bonds. As long as you know what you’re doing, this can turn out to be a very useful stockpile of money should you need to pay for an emergency, send your kids to college, or provide for your family in case something happens to you.

Wrapping Up

Buying a house with cash is undoubtedly the smartest way to buy a home, it just takes a certain amount of discipline when it comes to saving the money.

Don’t waste your time and resources doing it alone or working with an amateur agent, contact a reliable real estate agent today and put yourself in good hands.

Before Buying A House, FIND, What You Want, And Need!

Since, for most people, the value of their house, represents their single – biggest, financial asset, wouldn’t it make sense, for potential buyers, to take the time, and make a concerted effort, to fully consider, what they need, and want, including their finances, etc? Before you should, buy a home, fully consider, and FIND, what you want and need, and, whether, you are making the wisest move, for you! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, why this is the smartest, sanest, and most necessary, approach, to proceeding, in your own, best interests.

1. Future; funds; features: It’s your future, so doesn’t it make sense, to proceed, in a wise way, which balances, both, the finest aspects of your logical, and emotional components? Many become emotionally committed to their perceptions of home ownership, and what, they perceive, it means and represents, but, do not pay, enough attention, to the funds, needed, both, initially, as a down – payment, as well as on a regular, monthly basis! In addition, they fail to consider, whether the features of a particular house, are the ones, they need, and can afford!

2. Imagination: The reason, so many houses, which are listed, on the real estate market, are staged, is to create an attractive, inspiring image, to potential buyers. Rather, one must proceed, with the imagination, to look beyond the obvious, and consider, whether, it makes sense for them, and, if they are getting, the most, bang – for – the – buck!

3. Neighborhood; needs; nuances: Ignore what others want, and focus on your personal needs, both, at present, and into the future! Consider, why you are opting, for this particular neighborhood, and if it serves your priorities, etc! How convenient is it, to, things, such as shopping, entertainment, transportation/ commuting, Houses of Worship, etc? Are the specific nuances, of your selection, those, which might, suit your best interests?

4. Deliver; discover; desire: Will the house, you choose, deliver, what you seek, desire, and prioritize? How much time, and effort, might you, expend, so you fully discover, the best personal course of action, both, in the nearer – term, and in the longer – run? Why do you desire, home ownership, at this time, and are you ready, for the responsibilities, etc?

Before you begin your quest, for a home, of your own, take the time, and make the effort, to FIND, what best meets your personal needs, and priorities, etc! Will you be a smart home buyer?