Real Estate Questions

Everyone, at some point, has a real estate question.  We may have the answer and if we don't, we can get it for you.  

We are in historical times for interest rates- low is what you want when you want to buy a house.  Prices are also low right now but at some point in time, the prices will begin to tick up.  

Credit scores are critical elements of the home purchase.  You must pay your bills on time, in total or face the lowering of your credit scores.  Anything below 600, generally, will not allow you to participate in a home purchase.  Your scores can also impact the interest rate you will be offered. 

We all want the 36 million dollar home but I would suspect that 99.9% of us cannot afford that home.  So be realistic when you are looking- do you really NEED 2500 square feet for 2 people?  Or will a smaller home suffice with some higher end upgrades?  Know what your capabilities are- if you are looking at "fixer uppers," can you do most of the work yourself or have contacts that you trust who can do the work?

I have found that a five year plan works wonders.  Find a home that has most of your needs in a good neighborhood that has held it's value for a longer period of time.  Then make sure the structural bones of your potential purchase is solid.  Then have a home inspection to determine any problem areas.  If your roof needs replacing, then replace it!  Roof leaks will ruin all your good intentions. 

Determine (before the purchase) a priority list of repairs.  Is the master bathroom more important than the kitchen?  A solid kitchen redo will bring the largest portion of your expenses back to you at the time of sale.  Bathrooms are second.  Paint can take a plain, ordinary room to one that is a pleasure to be in. 

Don't forget to visit the home shows; kitchen showrooms; new construction as well as the magazines and the television shows.  Make their ideas work in your new home! 

Trackbacks (0)

Comments (0)