When an appraiser makes his property value assessment of a home, one of the things that is considered is the neighborhood in which it is located. This can be an influencing factor on the home’s value and it is also something that the homeowner should give a lot of consideration to before they purchase a house. In general, there are several common considerations such as the quality of the schools, crime rate, property values and traffic issues. There are several other items that you will want to consider along with the standard factors. Continue reading »
Archive for the ‘purchasing a house’ Category
When you move into a new residence of any sort it is pretty certain that there are plenty of other people who have made copies of the keys used on the locks. Think about the last place you lived, how many people did you give keys to so that they could easily access your home? There are several reasons why you may want to call the locksmith to have the locks changed out on your new home.
Why Change the Locks?
No matter where your new residence is, it is imperative that the locks be changed out once you move in. Some types of locks may require a locksmith to exchange the locks; while others can be done yourself. You will need to stay with the same kind of lock, or just have it rekeyed if it is possible. Deadbolt locks are tubular and when they are replaced you will want to use the same type of tubular lock. It is not the best idea to try to drill new lock holes as it can be unattractive; or it can compromise the door’s integrity. Sometimes several of the exterior doors have been keyed so that they all require the same key. In this case it is best to have a locksmith rekey them. The older locks should be changed as it is uncertain if they have been picked, jimmied or previously broken in to. Since you are not certain about the lock’s integrity, it is best to maximize your safety and install totally new locks. Continue reading »
Choosing the right home for your specific needs is a crucial element in the purchasing of a home. Location, size, your lifestyle needs, and the price of your home should be considered when choosing to buy a new home. These elements should be evaluated at the present time and for the future. Your needs may change in the future and that is just as important as your current needs when making a long term commitment such as buying a home.
Location should be considered when purchasing a home for many reasons. For example, if you travel often you may want to consider living near a family member or a friend so that house sitting is an easier option or living near an airport so that you have convenient access to the airport. Do you have children or plan to have children in the near future? Some school districts perform better then others districts do, this would be a good reason to purchase a home in a favorable school district.
Equally important is the size of the home you are looking to purchase. Family size, present and future, should be considered when it comes to the number of bedrooms your home is equipped with and the living space provided in the home you choose. Do you have pets? You may want a larger yard for your pet’s needs? Do you work from home? A quiet office space may be something to look for in a new home.
As for the price, the overall price of your home, the monthly mortgage payments, and your home owner expenses should all be factored when choosing a home. As discussed in Deciding to buy your home, “homeowner’s insurance, private mortgage insurance, home association fees, property tax, and maintenance and improvement cost are added expenses for many home owners.” Make sure the home you choose is affordable in all areas of cost for you, as the home owner.
Doing your research and choosing the right home in regards to location, size and price will lead you to a successful home ownership. Buying a home is a huge step and a big responsibility. Choosing the right home for your needs is very important for that reason, this huge step should be one that brings you comfort knowing you’ve made a great investment in a home that is ideal for your needs.
There are many factors to consider when deciding to buy your first home. The time has to be right for the purchase of a new home and the right time to purchase a new home isn’t dependant only upon how the market is in your area. The right time to buy your first home is also dependant on your current life circumstances. Meaning, before buying a home you must do your homework and see if this life changing decision is currently the right decision for your situation.
When purchasing a home you must consider your work history, credit history, savings, and affordability. Some questions to consider:
• Have you had steady income in the past two years, and if you haven’t what has caused your employment to not be steady?
• Has your income fluctuated, and why?
• Do you have a history in paying your bills on time?
• Have you defaulted on loans previously?
• What does your credit report show, is it favorable?
• Do you have a savings account, and how much have you saved?
• Can you afford a mortgage at the present time?
After considering the questions above, remember that you must consider added cost as a home owner. Homeowner’s Insurance, private mortgage insurance, home association fees, property tax, and maintenance and improvement cost are added expenses for many home owners. Are these cost that you will be able to afford as a new home owner?
After reviewing the information I have listed you should know if today is the right time for you to act on purchasing your first home. Is today the right time for you to be a first time home owner or is it best in your personal situation to continue to rent a home? Please share by commenting how you are ready to buy a home or how you could better prepare yourself to purchase your first home. Others can better prepare themselves in buying their first home by learning from the information I provided and by your personal examples shared.