Everything you need to know before buying your first house
Before you can even buy your first house, there are a number of things you need to consider. The current market situation around the world is one of the best for you to buy that home you so much need. There are many dealing of house sales and leases being conducted each day. Regardless of your age, buying a new home might be a great choice for you if at all you approach the whole issue correctly.
For first-time homebuyers, the whole homebuying process may look a bit daunting. You’re going into what could be the biggest purchase of your life with no experience to fall back on. The good news is a little preparation can go a long way and help you approach this major decision with confidence. Many things have changed in recent decades about the way Americans buy and sell homes, but one adage still matters, a lot: location, location, location.
While you may be happy living in any of several neighborhoods in your city, you won’t be happy if you choose the wrong location. And that’s where your research should start: deciding exactly where you want to live.
One of the factors you must consider is if at all you are going to stay at that home for a long period. Are you happy wherever you are staying? It is possible to move to some other place? Are you unsure about your future or where it is headed? If at all you are a young person, these are some of the questions which may be lingering in your mind. This is normal and you should work within these parameters rather than doing it against them.
Whether you are purchasing your home as an investment, a lifestyle upgrade or both, one of the most important decisions you will make is where you want to live. Your home’s location will help determine not only the future value of your investment, but also many aspects of your everyday life. Here are some factors you should consider carefully when selecting a location.
The part of the country you choose to live in will have a major impact on your lifestyle. Particularly if you want to stay in your home for a long time, make this decision very carefully, taking into consideration the factors that are most important to you, like average home prices in the area, job opportunities in your field, proximity to loved ones and climate.
Sourced From : http://www.investopedia.com/university/home/home1.asp
You should not be in a rush to acquire your first house. You need to think and research carefully before making the final deal. You need to first contact a real estate agent and inform them that you are looking to own a house for the first time. You can also take some time to ask friends and family or reputable realtors about housing conditions and rates within your region. At least these are people you can trust to offer you correct information. Make sure you inform the realtor that you are looking for a house which is in foreclosure.
Unless your best friend or your favorite uncle just happens to be a real estate agent or broker, the task of selecting someone to represent you in a real estate transaction can be daunting. Thanks to computers and the Internet, not only is there a real estate office on almost every corner, but today’s buyers also have online access to an unlimited number of possible agents and brokers. Sorting all of this out can be time consuming and fraught with landmines along the way—especially for first-time home buyers, since they most likely have little or no experience in what’s involved in the real estate buying process.
Fortunately, clearing a path through this minefield is neither hopeless nor impossible. But first there are some basic concepts you need to understand before you start the process.