By financen | April 3, 2019 - 6:13 pm - Posted in Home Buyer, Mortgage

For a first time potential homeowner, there are many things that one never knows. Or even if they do know, understanding them might not come as easy. When buying a house, there are a lot of things that one needs to keep an eye one. Here are some of them.

Deposit at Least 20%

Most people whenever they think of owning a home they think of taking out a mortgage, and that is it. However lucrative it may seem to take out a full financing mortgage plan, experts at Sun West Mortgage advice against this. It is always a safer option to deposit 20% of the value of the house and then take out a mortgage for the remaining amount. This will lessen the burden of paying interest at the same time private mortgage insurance.

Have Some Backup Money

When one rents a home, its maintenance is the least of worries that they can have. The reason is that the landlord fixes any issues that the tenant may experience while leasing the home. This is usually part of the lease agreement. Things change when owning a home; Sun West Mortgage advises that one have some money kept aside for repairs and any unforeseen spending.

It is essential that one is well informed before making a buying decision. Real estate when invested in with full information is a safe investment for many. The opposite is also true.

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By charles | January 9, 2019 - 2:21 pm - Posted in Home Buyer, Real Estate
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Price of buying a home and the mortgage rates keep increasing every year. So, if you are planning to buy a home at this time of the year, keep the following points in your mind before jumping into the market.

Having a good knowledge about the market: It is important to do a thorough research on different markets because each market behaves differently during the fall. According to the real estate market reports of August, national home values rose 0.4% from July, making it the third consecutive month where monthly home values rose more slowly than the month prior. However, markets in other places like California, Nevada, Minnesota are moving at a brisk pace of home value appreciation. It will be around 2 percent or higher.  By the time, this year’s selling season comes to an end, we will experience a slowdown in home value appreciation.

Selection is getting limited : There were many frustrated sellers who were not able to sell their properties during the busy season. This might take their homes off the market during the holidays and all actions will come to a standstill. This means that the choices for homes will become even more limited than what it is at the current market.

Using the negotiation skills : If you selected a home few months ago and if it is still not sold, then you can negotiate with the buyer for a lower price. While some buyers may not participate in the current market, others who have been waiting for the best possible price may now be ready to offer a lower quote. On the other hand, there may be some homeowners who are determined to get a set price and others will simply continue to wait for more time.

Checking the maintenance area : Fall is the best time to check the maintenance work like gutter drainage and the general upkeep of the yard. Check your home during this time and see if it needs any repair. During rainy season, you can inside your house and check out the furnace, look for the drafts, leakage issues and other possible structural or maintenance problems. You can keep aside a certain amount of money for repairing your home and then at a later stage, you can adjust the price of your home accordingly.

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