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Buying a home is a great achievement by any standards. If you have decided to take the step to become a homeowner, then there are various things that you should put into consideration to ensure that you buy the best house possible. Needless to say, when choosing the perfect property — there are many things you should look at.  Reviewing ALL of the active listings, reviewing the recently sold properties, going over the local real estate statistics — are all things that you should be doing.  Many good local real estate websites provide that information — here is an example of a local Wilmington real estate broker site where all of the critical information is on one page.  This site focuses on the homes in Wilmington – but you should be able to find something similar for your area. Research the community.  Make sure that you don’t just look within that specific neighborhood — find a website that shows all of the most popular communities.  Here is an example of a local real estate website that goes into good detail on the local communities — This is for the Boston MA area — but you should be able to find something in your neck of the woods too. That is the basic stuff.  In addition, upon finding a home for sale that makes the list, you should look a little deeper to make sure its truly the perfect home.  Here is a good checklist of items to dig into when buying a home.   Staircase Check to see how long or steep the staircase is before you decide to buy the home. If you plan to grow old in that home or live with an elderly relative then you should avoid buying a home with steep staircases because they can cause you or your loved one health problems. Size of the rooms The size of the rooms should be just right, not too small or too big. When you are viewing the home, try to visualize how you will arrange your furniture into the rooms and whether you think they will fit into the space available. If possible, you should bring measuring equipment with you and take measurements because you might overestimate or underestimate the size of the room and end up buying a home that will not fit your stuff unknowingly. Tips For First Time Homebuyers Kitchen They say the kitchen is the heart of a home.  Also, a kitchen remodel can be crazy expensive.  Therefore, you should pay special attention to the kitchen before deciding whether or not to buy the house. Find out whether it has a gas stove if you prefer to cook with one. You should also consider the layout, number of sinks, natural light, storage area and its general size. Windows Check to see whether the number and size of the windows are desirable.  Look to see if the windows are double insulated — as that will affect your monthly electric bill.  Make sure they…

Buying a home is a significant decision that requires careful consideration of various factors. Whether you are a first-time buyer or looking to upgrade to a larger property or just a different type of property, it is crucial to evaluate your needs, finances, and the market conditions. The process of purchasing a home involves numerous considerations, and this article aims to highlight the key factors to keep in mind when embarking on this important journey. Budget and Affordability One of the primary factors to consider when purchasing a home is your budget. Determine how much you can afford by analyzing your income, expenses, and any existing debt obligations. Use online mortgage calculators to estimate your monthly payments, including principal, interest, taxes, and insurance. Ensure that your housing costs fit comfortably within your overall budget to avoid financial strain in the long run. Location The location of your prospective home plays a vital role in your daily life and long-term investment. Evaluate factors such as proximity to your workplace, schools, healthcare facilities, and recreational amenities. Research the best neighborhoods and their safety, transportation options, and future development plans. Additionally, consider the potential for property value appreciation over time in the chosen location. Size and Layout Assess your current and future needs when determining the size and layout of your ideal home. Consider the number of bedrooms, bathrooms, and living spaces required to accommodate your family or lifestyle. Evaluate the functionality of the layout and ensure it meets your preferences. Think about potential expansion or renovation options if needed. Condition and Maintenance Examine the condition of the property you are considering. While some buyers may prefer a fixer-upper to personalize their home, others may favor move-in ready options. Assess the age of the home, its structural integrity, and the condition of major systems such as plumbing, electrical, and HVAC. Consider the potential costs and efforts associated with maintenance and repairs. Resale Value and Future Marketability Even if you envision staying in your new home for an extended period, it is essential to consider its resale value. Research market trends and consult with real estate professionals to gain insight into the property’s potential appreciation and marketability. Factors such as nearby amenities, school districts, and overall neighborhood desirability can impact the resale value of a home. Financing Options and Interest Rates Explore various financing options available to you, such as conventional loans, Federal Housing Administration (FHA) loans, or Veterans Affairs (VA) loans, depending on your eligibility. Shop around for the best interest rates and mortgage terms. A lower interest rate can save you thousands of dollars over the life of your loan. Consider working with a reputable mortgage lender who can guide you through the financing process. Home Inspection and Due Diligence Before finalizing your home purchase, conduct a thorough home inspection. Hire a licensed home inspector to assess the property’s condition and identify any potential issues or safety concerns. Review the inspection report carefully and address any significant findings with the seller. Additionally,…

Buying a Waterfront Home? Here are Some Top Tips to Guide You You have always dreamed of owning a waterfront home, and you are thinking about making the plunge. Do not assume that because you bought your current home successfully you can buy a waterfront home using the same methods. Waterfront homes are different as they more expensive and deal with unique issues such as bulkheads and more expensive insurance.  Its important that you buy the right property.  If you are not careful you may end up owning a property that becomes more of a headache than a long-term financial investment.  Needless to say, living on the water can be a luxurious feature of your new home, but it pays to know some of the pitfalls of living on the water. Before you buy take into account the following: •    Make sure that the property is inspected for damage from the elements. Beachfront homes are susceptible to the elements because they are so close to the water. Oftentimes they could suffer structural damage. With many waterfront homes built on stilts and highly elevated, they don’t have the same type of foundation as a traditional slab property.   If you don’t have a thorough inspection done you may buy a property that will cost you a lot of money. In addition to a traditional home inspection, you may want to look into a structural inspection done by a structural engineer. •    Don’t just look at the structure. Pay close attention to the water aspects of the property too. Is the water navigable?  Are there any water rights given to others such as littoral rights or riparian rights?  Do you own the proper water rights for the water that your home is on?  Needless to say, if you are purchasing a beachfront condo – you wont own the ocean, but if you are on a lake or river – there are very specific real estate water rights that may be applicable. •    Pay close attention to Flood Insurance.  Many homes across the country have to pay for flood insurance in addition to standard homeowners insurance, but if you are living adjacent to the water – you may have a more expensive policy than expected.  If you are on the beach – you may be in one of the new flood zones called “flood zone V”.  Flood Zone V – is a Velocity flood zone.  These types of flood policies take into consideration that your home could be damaged by the velocity of a hurricane and have very expensive premiums. •    Take into consideration the popularity.  For instance, if you are buying a waterfront home in Madisonville LA on the Tchefuncte River – you will want to make sure that you are OK with boating traffic on the river on a constant basis.  If you are purchasing a condominium in Panama City Beach, you will want to make sure that the huge influx of college students for Spring Break doesn’t drive you mad. •  …