_First Time Buyers
Things to keep in mind At Buyer’s Companion, we like to say the 3 most important words in real estate are EDUCATION, LOCATION, and CONDITION! Education:At Buyer’s Companion, our goal is educate our clients while providing quality service which ultimately results in a hassle free purchase. Location: Many considerations must be taken into account when determining where you should buy a home. Proximity to employment and the quality of the schools are common factors to determine if the location is suitable. Many communities now have websites full of information you should review when selecting your future home location. Once you have narrowed your search to a few towns or communities, contact local Realtors® to learn more about real estate in that area. In addition to getting a feel for housing in the area, we recommend you spend some time in the town you are considering. Have a meal at a local restaurant, do some shopping, or visit the library to get a feel for the community. Make sure you visit the area during the day and at night, and weekdays as well as weekends. Condition: Condition is a significant factor to be calculated into your home purchase equation. This is why you will need a certified real estate inspection service as a key part of your team. Return HOME
|
_All
homes require constant care; care that will cost money. Most home buyers take into consideration what the cost of paying the home`s
mortgage, taxes and utilities will be, but fail to factor in home
repairs and maintenance. Buyer’s Companion
estimates that to adequately maintain a home in today`s economy, home
owners need to spend between 1-3% of the cost of the home each year on
maintenance.
Many Buyer’s Companion customers ask if it is better to buy a home in good condition at a higher price, or a home in need of repairs at a lower price. The answer is: It depends!
On the other hand, buying a home that requires a lot of repairs may be a big mistake. First time homebuyers must consider the repairs outlined in the report provided by their real estate inspection service and determine if they can afford to make them after paying their mortgage; particularly if the buyers do not consider themselves do-it-yourselfers. Another consideration to factor in is how long you plan on staying in the home. Many homebuyers are only planning on being in a home for a few years and do not have the time, money, or inclination to coordinate many repair projects. These buyers often find that paying a premium for a home found to be in good condition on the inspection is a wise choice for them. |