TIPS FOR BUYING A HOME
Buying a home can be a rewarding life experience, as well as a great investment. But having a successful purchase requires some education and research. For first time homebuyers especially, you'll save yourself a lot of frustration--and maybe even money--if you start with a few simple steps.
Know What You Need
1. Be honest about your housing needs, and call real estate agent Renee Z. Gatian, GRI/RRS to guide you through the process.
2. Assess you finances and meet with several lenders to find the right loan.
3. Research neighborhoods carefully, and make sure to have the house professionally inspected.
4. Use contingencies as a negotiation tool, and don't forget to budget for closing costs.
The first step is being honest about your needs versus your wants. For example, you may dream of having a big backyard for gardening. But if you have a busy schedule, a low-maintenance townhouse probably makes more sense. You also have to think about the long term. Will the house still meet your needs--or your family's needs--5 years from now?
Crunch the Numbers
It's extremely important to have a clear idea of your financial situation before you start looking for a home. Not only will this help you set a budget, but financial records will come in handy when you start shopping for a loan. Make sure to talk with several lenders before making a decision. While interest rates and closing costs are important considerations, you also want to have your lender explain things in a way you can understand and make time for your questions.
Compare Neighborhoods
Focus on areas that meet your needs, budget and personal taste. Factors to pay special attention to include convenient access to transportation, employment, schools and stores. The right neighborhood should also make you feel safe, offer recreational opportunities, and have adequate police and fire protection. To help find your ideal location, consult with your real estate agent Renee Z. Gatian, GRI/RRS and try speaking with residents in the neighborhood to learn more information.
Inspect Houses Carefully
During any house showing, be alert for signs of structural weakness, water damage, pest infestations or other things that just don't "look" right. Conversely, don't overlook an otherwise suitable home just because it has cosmetic problems like outdated carpet or a bad paint job. Most importantly, never purchase a home without first having it thoroughly examined by a professional home inspector.
10 Home Buying Mistakes You Should Avoid
1.Working with an agent who is unfamiliar with the area, or thinking that you don't need to have an agent.
2.Making an offer without having a clear idea of your budget.
3.Not shopping around for the right loan.
4.Failing to research the neighborhood beforehand.
5.Buying a house based on its size, rather than how well it fits your needs.
6.Overlooking a good home simply because of cosmetic problems.
7.Not having a home professionally inspected.
8.Thinking that price is the only bargaining chip.
9.Not reading the fine print on the purchase contract.
10.Not budgeting enough money for closing costs.
Negotiation and Contingencies
Don't rely on price as your sole bargaining chip. Contingencies may be written into the contract to specify how certain aspects of the transaction will be handled--everything from standard contingencies like pest inspections, to contingencies for the seller to leave the drapes or pay the buyer's closing costs. Make sure any verbal agreements are written into the contract and that you read ALL the fine print before signing. If you have questions, consult with your real estate agent or real estate attorney.
The Closing
The closing represents the completion of the sale. Be prepared to sign numerous documents as well as pay funds for loan costs, property taxes, insurance and other fees. Try and get a copy of the documents prior to the close so you can contact the settlement agent or escrow officer if any of the information seems wrong or is unclear.
RELOCATING TO PENNSYLVANIA, OHIO, WEST VIRGINIA OR NEW YORK?
Howard Hanna Real Estate Services of Pittsburgh, Pennsylavania has your solution. Let me know where you are going and our relocation network will team you up with a Howard Hanna agent ready to serve your home buying needs. Of course if you are relocating to Morgantown or anywhere in North Central West Virginia, I will assist you personally. I will provide you with all you will want to know and more about the Greater Morgantown and North Central West Virginia area. Feel free to surf my website to find information such as local school information, weather, and the community.
If you have additional infomational needs, please do not hesitate to call me at 304-282-4186 or email me at reneezgatian@adelphia.net
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