There are several things to consider as you begin and progress throughout the Home Buying Process.
One of the biggest mistakes a home buyer can make is not using a Buyer Specialist, a real estate expert that serves as an advocate for the buyer, from finding the perfect home to closing. You’ve chosen to work with a Buyer Specialist from the Rachel Kendall Team, so you are already ahead of the game. Your Rachel Kendall Team Buyer Specialist will make sure you ask and get the answers to the following critical questions, and consider the additional items.
Questions to Ask About the Home
- What is the visible condition of the property?
- What major repairs/replacements are necessary?
- How old are the mechanical systems?
- Has the house been well maintained?
- How is the house sited on the lot, and where is it located on the block?
- What is the overall neighborhood condition?
- How close is the house to shopping, schools, major roadways, etc.?
- Are there community amenities nearby?
- How long has the house been on the market?
- Price/CMA according to neighborhood sales?
Other Considerations and Questions
Are there issues with any common hazards such as: Radon, asbestos, cracked foundation, lead pipes, lead-based paint, grounded outlets, oil tanks, wells, cesspools, or septic tanks.
What about resale value? A view, lot size, landscaping, house size, number of bedrooms and bathrooms, closets, garage, laundry, kitchen amenities, fireplaces, and swimming pools can all have affect value.
Things Not to Do Before Buying
- No major purchases of any kind
- Don’t move money around
- Should you change jobs?
- Ignore credit problems
Lender and Loan Programs
- Research mortgage institutions and the different loan programs they offer.
- Talk to a lender to determine the right loan program for your situation.
- Get prequalified so we can begin seeing homes.
Tax Benefits
- Mortgage interest
- Points
- Equity loan interest
- Home improvement loan interest
- Property Taxes
- Home office deduction
- Selling costs and capital improvements
- Capital gains exclusion
- Moving costs
- Mortgage tax credit
Taking the extra time to ask and get the answers to these questions, and consider these items, will make you a better prepared buyer.
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