Thinking About Buying A New House?
Real estate can be a wise investment if you buy it for the right reasons at the right time. An over saturated market is not the time to buy a house to flip, but it can be the perfect time to get that first starter home that you have been saving for.
My first tip for you is that if you are thinking about buying a house, you should find an experienced real estate agent who makes you feel comfortable with your purchase.
Make sure he or she is willing to show you houses with the features most important to you in a range of prices you can afford. If your personalities click, that's even better. And it's best if the agent is organized, quick to respond, and willing to respond to your requests in your preferred method (e.g., email vs. phone).
Do not let your real estate agent change your mind for you about a particular property. They do not make money until a property changes hands, so unscrupulous agents may not have your best interests at heart and may try to get you to buy a property that isn't right for you.
Consider buying a brand-new home in the fall. In many cases builders are beginning to discount their inventory, and they may even offer some great incentives around September to make the sales that they need before the end of the year. Prices of these homes that do not sell in the fall will go back up in the spring.
Tour many properties before making your final decision. Keep track of the things that you have liked and the things that you did not like about each one. Maybe even develop some kind of a rating system to help you narrow the long list of potential homes down a bit.
When buying real estate, be sure to check out the type of plumbing so you can be prepared for repairs down the road. A lot of plastic pipes commonly used during the early 80's, can get very brittle and fail after all those years of use. If this type of plumbing is still in the house, then you could be the one stuck with the repair bill.
When it's time to make an offer, it is recommended that you hire a home inspector to look at things like the plumbing and the roof and other systems in the house. Make the offer contingent upon a good inspection. This way, if something unexpected is found, you preserve the right to back out of the deal. Or at least you can have a good conversation about the issues even if you decide to continue with the purchase.
As previously stated, timing can also be important in buying real estate. You need to consider what you want to buy and why you want to buy it. Take the time to think it over and do not make a purchase until you are certain.