Academy Mortgage Corporation

Top Ten Considerations When Buying a Home


 

Your home may be the largest investment you are ever going to make. There are numerous considerations to keep in mind when working with an Arizona mortgage lender. 


 

1      The first thing to consider is the state of the real estate market. At times the market is flooded with homes so you might pay a lower amount. At other times;  there are more buyers than houses . You can expect to pay top dollar in those times. Consult a professinal realtor to guide you through this step. .

2      Invest a visit to your trusted Arizona mortgage lender. You want to be a cash buyer not a window shopper.  Trust your gut or your spirit.  When you meet 2 lenders face to face your spirit will tell you which one you can trust the most....Go with that one not the one that quotes you the lowest rate. Quotes mean nothing  - TRUST means everything. 

3      When you visit a property think is the house in a nice neighborhood?  If you are not familiar with the neighborhood get to know it before you put in an offer. Drive it and even knock on a few doors.  Most people don't bite.

4      Once you have narrowed down your choices you need to consider its cost. You should never negotiate the price without checking your realtor's surrounding housing report.  Price is relative. Find out what the comps are going for.  

5      Research the amount of taxation the property was subject to the previous year. You may also wish to investigate how much the previous owners paid in electricity, heating and water.

6      Keep the resale value of the property firmly in mind when considering the property. Some homes simply aren’t attractive to most buyers.  For example; a cemetery across the street may not bother you but it may seriously complicate the resale process.

7      One of the reasons so many new home owners sell their homes within five years is a failure to plan ahead. Will you be planning a family or starting a business? In these cases a small starter home many become unsuitable.  It is important to consider the long range utility of a home.

8      Once you have finally selected a home you absolutely must have the home inspected. Property inspections are for the protection of the buyer. Most realtors and some Arizona mortgage companies will have good inspecttors you can use.  If you wish to buy the home regardless of its structural flaws, you can use such findings to re-negotiate the price.

9      The final consideration to keep in mind when purchasing a new home is whether or not you absolutely love it.  If you do NOT absolutely love it keep looking there are plenty more.

10      Dont sweat the small stuff..... most everything is small stuff!