10 more tips for buying a new home | Dotloop

10 more tips for buying a new home



June 28, 2012 | comments

Buying a new home is a major step up on the ladder called “life”. Not only does it give that new home owner a sense of pride and achievement, but it also strengthens ties to their community. It’s a big investment in many ways and that’s why everyone should be careful when buying a home. The following are ten more tips to help people organize their search for a new home:

1. Buy the house that you truly need: Look for a home that has the right amount of space instead of one that is too obviously big for your needs. Otherwise, you pay for rooms you don’t end up using and may spend more on energy bills.

2. But don’t buy too small: At the time, if you buy too small of a home, you may end up spending much more to put an addition onto the house.

3. Work with realtors who use real estate technology: Although that might not sound so important, when you consider that they will be capable of doing more for you in less time, you will probably find a better home at a good price.

4. Use social media to learn from new home owners: Sites like Facebook are an easy, excellent way to interact with new home owners and learn from their experiences.

5. School district: This will affect the price of the home and is of course of basic importance if you already have, or plan on having children.

6. Learn about the local housing market: Learn about prices of homes in your area to know a great deal when you see it.

7. Look for defects: Inspect the home with an eye for actual and potential problems.

8. Don’t ignore foreclosed homes: If you can fix the place up, buying a foreclosed home could be a great investment.

9. Get a 15 year mortgage: If you can, go for a 15 year mortgage instead of a 30 year mortgage to save money over the long term and pay off the house in a shorter amount of time.

10. Make sure you absolutely love that home before buying it: Be totally convinced that you want to live in a house before buying it because it might end up needing more work than you think or be a challenge to sell.

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