Buying a new home is an important life decision and investment. You are required make sure that what you are buying is perfect for you and your family. There are some steps you can take to ensure you are getting the right home that will meet all of your needs.
Consider Your Needs:
Before looking at new homes, you should consider what type of home will meet your requirements. You should think about location, size of the home (square footage), number of levels, the number of bedrooms and bathrooms, whether you need a back yard if the home is near your work, schools, playgrounds, and other amenities. Look through magazines, newspapers, and homes for sale on the internet to determine what you want.
Hire Your Agent:
Hire a Real Estate Agent to represent you. Sellers’ agents tend to represent the seller. It would be beneficial to use your agent because they can negotiate the price and save you money. The prices of the commission will be worth the savings you receive from the house purchase. An agent will also inform you of any issues about the home that you should know. Ask for detailed price and estimates of everything that is involved with buying a new home. Your lender and agent can guide you on the charges of securing mortgage and taxes.
Find a Reputable Lender:
Depending on your credit history, a bank may offer good rates and terms. A sales agent may know of a good private lender. Find out whether your lender will lend on all the options and upgrades. It pays to shop around. Make sure the lender gives you a pre-approval. If you’re going to try out an FHA loan, make sure to pay attention to 203k FHA loan limits. If they don’t, then go to another lender. Talk to the lender about mortgages early in the sales process. You will then know if you can afford the home.
Consult with an Attorney:
A real estate lawyer is the best person to talk to. They can tell you about fees such as deed transfer fees, title costs, taxes, and other costs. Ask about cancellation rights and your liabilities.
Hire a Licensed and Accredited Building Inspector:
Get a home inspection before you buy. An inspector will determine if a new home contains any defects. Make sure that you carefully look the qualities of the home builder’s. If your home is older than 40 years old, you definitely want to make sure they look for asbestos. Look at the builder’s specification list to see if all of the features have been included. Here are some more reasons to get an inspection done.
Ask if your new home can accommodate the latest security advancements for such items as burglar alarms and surveillance cameras. You should also ask if the home is wired for the most current technology such as multiple phone lines, high-speed internet connections, and other cable outlets. Determine if you will need to buy any new appliances and furnishings.
Many home builders provide warranties in case of a structural defect develops. Having a warranty for a newly constructed home is important. If there are new appliances in the home, make sure you are provided with the warranties.
Although buying a new home is an good personal decision and most important life investment, it is also a very exciting and memorable time in one’s life. Before signing on the dotted line, make sure you have complete knowledge of the new home. This will help avoid any unexpected problems and ensure that all of your needs are met.