Collins & Demac Real Estate

Posted by Collins & Demac Real Estate on 11/3/2016

Just as selling a house can be a hassle, so can buying one, but it’s exciting and scary at the same time. A few things to remember before entering into an agreement will make the process a little easier. It may be that you are relocating and have decided that the best way to put down roots is to buy. It can also be a better choice than renting, given the high costs of rental property these days. First, you must scope out the area, checking the neighborhood, the proximity to your work, and the school system, for instance. Also, look at the tax rate, as they vary from town to town. As a rule of thumb, taxes are higher if the property is in a city or located adjacent to one. A “bedroom town” might be a better bet. That is a town that is still in the suburbs but doesn’t border on the city. It might be next to the one that does, but that is what keeps the prices and taxes a tad lower. Another very important consideration is to get pre-qualified for a mortgage before looking at property. Your credit rating and income and expenses will be a factor on how much you can afford. Go to a reputable bank or lender and sit down with the lender for a realistic picture of your finances. Although it is “scary”, it is vital to know where you stand. Once you are ready to start looking, there are a multitude of real estate agents just waiting to help. Sometimes, recommendations from friends or people in the area can help you decide which agent is dependable and will have your best interests at heart. Don’t be impatient; it takes some time to complete the whole process. Six to eight weeks on average is likely, but it can take much more time, what with home inspections, and taking care of any issues of the property’s condition and legalities, such as titles and the like. Most of this part will fall on the seller, but it still can slow down the process. Once you have decided on a house and made the offer, sit back and relax, if you can. It’s a time consuming process, but owning a home is very large investment and you don’t want to make a mistake.