Useful House Hunting Tips

By Author: Campbell Amanda
Total Articles: 25
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When you have your down payment and your pre-approval letter for a mortgage loan, the next step is finding the home that will meet you and your family's needs. When searching for your future home it is important to keep your expectations realistic and do your homework. You will want to start out by determining a price you can afford in a neighborhood that you like.

The key is not making the same mistake many home buyers across America are making every year. Just because you have received your pre-approval for a set loan amount doesn't mean that you can afford it. Make sure you take into account other expenses like monthly including bills, college funds, vacations, maintenance, and repairs when evaluating if you can make monthly payments. After considering these expenses you want to consider property tax, homeowners insurance, and sometimes homeowner's association fees. Also, think about how much expendable income you want or need for things like restaurants, paying off debt, or saving for retirement. All these factors can have a huge influence on what you can afford for a housing payment.

Now, you will want to ...
... discern between your wants and your needs. You need two rooms but you want an additional room for the study or play room. You need two and half baths but you want three whole bathrooms to make it more convenient when you have guests over. You need a functioning patio area but you want a built in back deck with an overhead pergola. You get the idea.

You will want to start making a checklist as you start your house-hunting endeavor. A good method for creating a checklist is to make a list for interior and exterior features and make notes. Some exterior characteristics you may want to consider are paint color and condition, roof condition, size of yard, garage size and more. The interior features you want to consider include floor plan, functionality of rooms, storage, and square footage. When creating your check list you should also remember the neighborhood, safety, schools, and traffic.

Industry experts also suggest bringing a camera to take a pictures of the homes you have visited, bring in other people you trust to get second opinion, consider the potential of the house and not just the current condition, and always refer back to your checklist and compare your wants, needs, and budget.

If you find a house you like, offer a competitive bid. Keep in mind you'll likely be competing against other offers. And remember once you make an offer, make it based on the findings of a professional home inspection. If any major defects surface, you'll want to have the leverage to renegotiate or back out of the deal completely.

If you are looking into buying foreclosure property or distressed properties, you need to have an inspection done prior to making an offer. In some cases, disgruntles home owners who are forced out of their homes can cause damage to the property. Make sure to check the roof, plumbing, electrical systems and the HVAC systems for damage. If something was done to harm the home, it is usually in one of the major systems.

Prestige Property Specialist is an Athens GA real estate company helping connect buyers and sellers in Athens-Clarke and Oconee County, Georgia.Visit http://www.athensprestigehomes.com for more information.