What You Should Look for When House Hunting

If you’re shopping for a home and can afford to buy one, you couldn’t be in a better position right now. In many parts of the country, housing inventory is high and both home prices and interest rates are low and as a buyer, you can take advantage of that.

With so many properties on the market, you can probably take a more leisurely approach to house hunting without getting into a fast-paced bidding war. There is a caveat, however. The best homes priced properly for the market conditions will always be in higher demand.

As you begin your search for the right home for you, it pays to keep in mind things you need to check carefully so that they don’t cost you big bucks in the long run.

 

Written By: Diana Lundin. If you would like to continue reading, click here.

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Home-buying With Others

Buying a home is more affordable when you share the costs with friends and family

In today’s market, home prices are out of reach for many, but some are pooling their resources with a friend or family member to purchase a home they otherwise wouldn’t be able to afford. For young adults who can’t pay for a home on their own—or for family members who want to take advantage of the tax benefits associated with home ownership—co-buying is the best bet when it comes to buying a house.

“Neither of us had a big enough chunk of money to put down for a home in a desirable neighborhood,” Brian Free told the U.S. News & World Report about his decision to purchase a home with his friend. “However, aggregating our resources allowed us to find a home that suited our needs.”

 

Written By: Tasha Schroeder. If you would like to continue reading, click here.

Can You Afford to Buy a House?

Although the thought of paying a mortgage is more enticing than paying rent, it’s important to understand all the costs involved in buying and owning a home as you determine whether you can afford to join the ranks of homeowners.

Potential buyers sometimes forget to factor in the down payment, homeowners insurance and the possibility of depreciation, as well as the costs associated with closing the transaction, moving, purchasing major appliances, and home, landscape and pool maintenance, not to mention furnishings and design accessories once you move in.

The days of calling up the landlord to fix your problems come to an abrupt halt when you’re a homeowner. You’ll be responsible for everything from malfunctioning appliances to leaky faucets to broken heating and air conditioning units and everything in between. And if you buy an older home, you’ll probably eventually encounter costly repairs, such as replacing the roof or windows.

 

Written By: Michele Dawson. If you would like to continue reading, click here.

Can You Afford to Buy a House?

Although the thought of paying a mortgage is more enticing than paying rent, it’s important to understand all the costs involved in buying and owning a home as you determine whether you can afford to join the ranks of homeowners.

Potential buyers sometimes forget to factor in the down payment, homeowners insurance and the possibility of depreciation, as well as the costs associated with closing the transaction, moving, purchasing major appliances, and home, landscape and pool maintenance, not to mention furnishings and design accessories once you move in.

The days of calling up the landlord to fix your problems come to an abrupt halt when you’re a homeowner. You’ll be responsible for everything from malfunctioning appliances to leaky faucets to broken heating and air conditioning units and everything in between. And if you buy an older home, you’ll probably eventually encounter costly repairs, such as replacing the roof or windows.

 

Written By: Michele Dawson. If you would like to continue reading, click here.

Buyers, Get an Edge During The Busy Spring Season

The spring and summer months are traditionally the busiest times of year for the residential real estate market. Weather is more cooperative and many families like to move while the kids are on their summer break.

But in recent years spring, for many regions, has meant more homes on the market, but also more buyers, fierce competition and an increase in prices.

 

Written By: Michele Dawson. If you would like to continue reading, click here.