Stating the Facts About Real Estate

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Stating the Facts About Real Estate

Buying real estate can be a really good investment. There are a few different approaches you can take. Many people choose to simply buy themselves a home and pay into the mortgage over time, building equity. You could also buy an apartment community or a couple of homes to rent out, profiting from the rent, and then profiting again when you sell the homes. Regardless of which approach you take, it is important to know the facts. This blog is a good place to find them! We state the facts on real estate, and we cover a wide range of topics for your benefit.


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Home Search Tips For A Successful Property Acquisition Experience

Buying a single-family home is an exciting purchase and an important step in your life toward the American dream. However, when you are searching for the home you will buy and move into, be careful to not get carried away by your emotions and let them take over your decision-making ability. Here are some recommendations to look at when you are shopping for your next home purchase to help ensure the process is successful.

Property Condition

An important question for you to consider in the home search process is to look at how much maintenance and work you are comfortable handling in your new home purchase. Not every home is perfectly in move-in ready condition, unless you are buying a new construction home. And even a new construction home will have problems that are warranty-covered, which you will need to manage, and you also may need to add in the yard landscaping yourself. 

With each home you look at as a potential purchase, consider the age of the home, its condition, and if you will need to handle regular upkeep on the property. For example, if you are buying a home that has aging components, such as the water heater or the HVAC, you might need to handle the water heater's replacement soon after buying the home. This will require you to do the work yourself or pay for a professional to come in and switch out the tank with a new one.

Additionally, if you buy a home that is a fixer-upper, look at the projects the home will need and determine if they are tasks you can handle yourself to save on the cost or if you want to hire them out to a professional. These added projects will eat into your budget as a new homeowner and need to be calculated into your homeownership costs.

On the other hand, you may want to look for a home that is move-in ready and get a home inspection before you close. A home inspection will let you know what areas of the home need work and replacement so that you can renegotiate the home's purchase price with the seller. This will help you plan for upcoming expenses.

Recognize Non-Changing Factors

When you view a home, it is also smart to look at the factors in the home you won't be able to change. This includes the location of the property, such as the neighborhood or street it is situated on, and its proximity to freeway access or your workplace. The size of the property is also a factor you won't be able to change, so if you want a smaller or larger size lot, be sure you specify this to your real estate agent and in your search criteria. 

Look at the types of homes in the neighborhood and their state of upkeep. For example, look to see how nearby homes and their yards are maintained. You might also want to look at the proximity of the property to a local factory or train tracks that might change the environment around your home. 

To learn more about purchasing a single-family home, contact a real estate agent.