Whether you have spent years
saving and preparing to buy a home, or you still aren't sure if it is something
you can even dream of, the questions surrounding a first-time home purchase can
feel endless.
You can find the answers – and
peace of mind – by working with
Bridge City Realty
Here are some tips to help you
with the process of becoming your own landlord.
Being pre-qualified for a loan determines how much
house you can afford. It also allows you to move more swiftly when you find the
right house, especially when you aren't the only interested buyer.
A difference of even half a percentage point can make a
huge difference in how much you pay over the life of a loan. For example, the
difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5
percent is about $35 per month. Over 30 years, that's $12,600.
A buyer agent is legally responsible for representing
the buyer's interest in a real estate transaction. Generally, the buyer agent is
compensated by the seller at the time you purchase a new home. There are some
limitations to using a buyer agent, however. Before you decide, have a Realtor
explain the advantages and disadvantages of using a buyer agent.
In some areas, a swimming pool actually detracts from a
home's value and makes the home harder to sell. In neighborhoods with two-car,
attached garages, a single-car or detached garage may impact the home sale and
future value. Your Realtor can point out features that hurt, as well as those
that help, resale value.
After touring each home, write down what you liked and
didn't like. Develop a rating system which will help you narrow the field down
to the house that's the best for you.
