Monday, May 7, 2012

Living Rent Free! - Buying

So now you've determined the location and the size of the house you would to purchase. Now it's time to start looking and eventually buying! As a buyer there is no point in not using a licensed real estate agent (it doesn't cost you anything, well sort of....but that would require a separate blog post)
  1. Find out how much money you have available, by getting pre-approved by a lender
  2. Look at the monthly cost of different loan amounts, just because you can get X dollars doesn't mean you should!
  3. Begin working with a realtor to narrow your search and locate properties that fit your criteria
Additional tips and considerations:
  • When looking at houses pay particular attention to the major systems: roof, heating, A/C, bathrooms, and kitchens. These are going to be the most expensive items to replace or update, so these need careful consideration when comparing houses and eventually making an OFFER.
  • Right now it is still a buyers market, make lots of low offers! If it isn't embarrassingly low, it's not low enough.
  • To get the best deal possible, the SELLER MUST WANT TO SELL MORE THAN YOU WANT TO BUY.

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