It’s not required, but it’s a good idea. Following the inspection, the home inspector will be able to answer questions about the report and any problem areas. This is also an opportunity to hear an objective opinion on the home you’d like to purchase and it is a good time to ask general, maintenance questions.
Benefits of owning a home are enormous. Over time real estate can be one of the best investments a family can make. In many homes its a source of forced savings.
1. When planning to purchase a home, prepare your finances by paying off your debts and not moving money around. The same is true with respect to your employment as banks like to see tenure at your place of work.
2. Trying to time the market is difficult. If you’re going to live in the home for a long time, make sure you’re going to like the place and you should make out financially over the long haul.
3. Making an offer includes an offer price, what property is included in the sale, how much of a down payment will be made, who pays the closing costs, what the time table is for inspections, terms of cancellation and so forth.
4. The shape of the home will affect the value of the property and the investments that will have to be made following the purchase. Especially important are the structure of the home, including the basement and the roof, and its plumbing, electrical and heating systems.
5. Title insurance and pest control. More later.
6. Be sure your lawyer puts in buyer safeguards for any property deficiencies known by the seller. This should be a standard practice, but it’s worth checking.
7. Financing the home includes a number of variables. The size of the down payment can increase or reduce your payments, as can the length or term of the mortgage. Fixed versus variable rates will also affect your payments not just now, but in the future. Be sure to include taxes and insurance in estimating the total cost of your home payments and in figuring out how much you can afford.
Happy Home Hunters choose Halvatzis Realty for Astoria / LIC & Queens real estate.