Dealing With Financing Part - II As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home. Get pre-approved. Sub-primes may be history, but you’ll probably still be shown homes you can’t actually afford. By getting pre-approved as a buyer, you can save yourself the grief of looking at houses you can’t afford. You can also put yourself in a better position to make a serious offer when you do find the right house. Unlike pre-qualification, which is based on a cursory review of your finances, preapproval from a lender is based on your actual income, debt and credit history. By doing a thorough analysis of your actual spending power, you’ll be less likely to get in over your head.
For more details on our products and services, please feel free to visit us at 203K Consultant, HUD Consultant, ADU Consultant & Financing, buy & remodel consulting & buy & renovate consulting Choose your mortgage carefully. Used to be the emphasis when it came to mortgages was on paying them off as soon as possible. Today, the debt the average person will accumulate due to credit cards, student loans, etc. means it’s better to opt for the 30-year mortgage instead of the 15-year. This way, you have a lower monthly payment, with the option of paying an additional principal when money is good. Additionally, when picking a mortgage, you usually have the option of paying additional points (a portion of the interest that you pay at closing) in exchange for a lower interest rate. If you plan to stay in the house for a long time—and given the current real estate market, you should—taking the points will save you money. Do your homework before bidding. Before you make an offer on a home, do some research on the sales trends of similar homes in the neighborhood with sites like Zillow. Consider especially sales of similar homes in the last three months. For instance, if homes have recently sold for 5 percent less than the asking price, your opening bid should probably be about 8 to 10 percent lower than what the seller is asking.
Many homebuyers dream of owning a beautiful, modern, luxurious home decked out with all the best amenities. For those fortunate folks who are actually poised to purchase such a home, however, careful consideration is essential. That’s why I’ve laid out the following tips to help you find a luxury home that meets your needs as well as your desires. Luxury home sellers often prefer to maintain a low profile. As a result, their homes may be unlisted or minimally advertised, making it difficult for you to find out when a luxury home becomes available for sale. Hiring an San Bernardino, Ca experienced agent, especially someone who has the requisite connections, can give you a huge advantage when trying to track down luxury homes on the market. While seeing photos of a luxury home can give you a good idea of its architectural style and key features, you’ll want to do a bit more research before deciding to attend an open house or book a showing. Try typing the luxury listing’s address into Google Maps to access the Street View. This will help you get a better picture (literally) of the home’s plot, yard space, and overall landscaping. Not sure if a home has that in-ground pool you’ve always wanted? Google may show you if this home will fulfill that dream, even if the public listing details do not. Considering the price tag, it should be a given that the luxury home you’re looking for will have modern flooring, fixtures, the most up-to-date appliances, and other features. To stay on the absolute cutting edge of home technology, you should choose a luxury home that also comes equipped with an automated control system. Smart home systems will allow you to adjust blinds, turn lights on and off, adjust the temperature, and more, all from your smartphone! A truly luxurious San Bernardino, Ca home will have a beautiful, high-tech bathroom. Popular features include high-end jet tubs that can shoot sounds waves through the water, and showers designed to mimc the rainforest or falling rain. Electronic control panels on such tubs and showers make adjusting temperatures and other settings a breeze.