Before you make that offer on your new dream home you might want to take the following steps. Take a look, each step can potentially save you some big bucks.
Things To Consider Before Making An Offer To Buy A Home
Improve your purchasing power by knowing how much money
you can borrow for buying a home. A local bank or mortgage lender can help you get
pre-qualified for a mortgage. Getting pre-qualified is less risky for sellers – they are
typically more willing to accept an offer from pre-qualified buyers rather than from
clients who may not have the necessary funds to complete the sale.
Visit the property at different times of the day and at night. Pay
attention to traffic during rush hour, street parking availability and how quiet or
noisy the surrounding areas are. If the house is near an airport, police station or
railroad track, it can be noisy throughout the day.
3. A Home Inspection:
It is common for houses to have defects – some more
obvious than others. Getting a home inspection can give you a good idea of what repairs
need to be made and may even help you negotiate closer to the asking price. A home
inspection can also be useful for detecting lead paint or termites.
4. A Home Warranty:
As a first time home buyer, protecting your investment
may be as important as enjoying your home. While a home warranty cannot prevent
systems and appliances from failing, it can save you money on costly covered repairs and
replacements. With a home warranty, you can place a claim any time a covered item fails and
a prescreened service contractor will come to your home to diagnose the reported failure.
5. The “Nitty-Gritty”:
Think about the details of a home. Is a one-car garage enough? The pool
may be a great bonus, but will maintenance hurt your budget? Do the elementary, middle and high schools
around the house have good reputations? Does your cell phone have coverage in all parts of the house?
Are there enough outlets for your electronic needs and are they placed conveniently throughout the house?