Let's face it – buying a home is rarely simple. As such, you may need extra help along the way to ensure you understand the ins and outs of purchasing a house. So what does it take to become an expert homebuyer? Here are three homebuyer education options that are available to homebuyers nationwide: 1. Family Members and Friends Did a family member or friend recently purchase a house? If so, you may be able to lean on this individual for support as you explore the real estate market for the perfect home. Typically, a family member or friend can serve as a reliable source who can share his or her past homebuying experiences. This individual also might be able to recommend a real estate agent who provided outstanding support to him or her in the past or suggest areas where you may be able to find a home that fits your budget. Family members and friends, of course, can help you minimize stress throughout your search for the right home, too. Thus, you should be able to rely on them for a helping hand as you explore the housing market. 2. Networking Groups and Workshops Did you know that networking groups and workshops may be available that can empower you with insights you need to find the right home immediately? That's right, and in many cases, there are no costs to participate in these groups and workshops as well. Usually, a networking group serves as a collection of homebuyers with a common mission – to discover a great house at an affordable price. It is important to note that networking groups are scattered across the country. And in order to find the right networking group, you may want to search websites like Meetup and Facebook. Homebuyer workshops occasionally are held at various locations nationwide by homebuying experts who are happy to share their knowledge. In many cases, cities and towns also will host free homebuyer workshops, enabling you to learn what it takes to purchase a house quickly and effortlessly. 3. Real Estate Agents When it comes to becoming an expert homebuyer, there may be no better resource at your disposal than an experienced real estate agent. Because with the right real estate agent at your side, you'll be able to explore a broad assortment of high-quality houses any time you choose. To hire the right real estate agent, you should be prepared to meet with several real estate professionals and discuss your homebuying needs with them. By doing so, you'll be able to find a real estate agent who you are comfortable working with and possesses the skills and expertise needed to ensure you can find your dream home without delay. Purchasing a house can be a stressful, time-consuming process, but receiving homebuyer education from multiple expert sources ensures you are better equipped to buy a house that fulfills your needs. Utilize the massive collection of homebuyer educational resources that are available, and ultimately, you can improve your chances of purchasing a home that you can enjoy for years to come.
As a homebuyer, you want to prepare as much as possible when you start looking at houses. By doing so, you'll be able to fully evaluate a residence based on your personal wants and needs and ensure you can find your dream house quickly and easily. However, there are many under-the-radar factors that homebuyers must consider when they check out a house, including: 1. Homeowners Association If you're evaluating condos, you should learn about the homeowners association (HOA) that manages the property. This will allow you to review HOA fees, how the HOA operates and other factors that may influence your decision to buy a home. Typically, it is simple to discover all you need to know about an HOA. To do so, you can work with a real estate agent who should be able to provide information about an HOA. Also, you can always contact an HOA directly and receive all the information you need without delay. 2. TV, Cable and Internet Service Providers Do you work from home and require a high-speed internet connection to complete your day-to-day tasks? Or, do you want to ensure you can get your favorite TV channels at all times? Regardless of your individual needs, you'll want to check out the TV, cable and internet service providers available in cities and towns where you'd like to live. This will enable you to find out if these local providers can meet your needs consistently. In addition, you should consider cell phone connectivity in an area, as this will allow you to determine if your cell service provider ensures you can enjoy clear calls in a particular city or town. 3. Attractions and Landmarks Do you enjoy spending a day at the park, checking out historic landmarks or going to concerts? No matter which activities you enjoy, it is essential to learn about the entertainment options near a home you may purchase. For instance, if a concert venue is close to a residence, it may affect nearby traffic patterns as concert-goers travel to and from this destination. Conversely, if you want a house that allows you to separate from the everyday hustle and bustle of the city, you may want to evaluate residences that are located many miles away from popular attractions and landmarks. 4. Walking Paths If you like to stay active, you'll surely want to find a house that features a wide range of safe walking paths that you can use every day. Whether it's going for a morning jog or simply enjoying a jaunt with your dog, you may be able to improve your chances of remaining active and healthy if you purchase a home with multiple walking paths nearby. Of course, a real estate agent can help you explore a vast array of homes in cities and towns nationwide. This professional will learn about your home preferences and allow you to streamline your search for the perfect house as well. Consider the aforementioned factors as you prepare to search for houses, and ultimately, you'll be better equipped to make a more informed home purchase.
It is a great time to be a real-estate investor. If you are looking to jump in the investor market low home prices and low interest rates make this a great time. According to Zillow.com. the real-estate market is starting to recover: U.S. houses lost $489 billion in value during the first 11 months of 2009, but that was significantly lower than the $3.6 trillion lost during 2008 and things only continue to look up. While the timing may be right, you will need to have all your ducks in a row. An investment purchase is different than your typical purchase. Consider your options. Have a strategy and know what kind of investor you would like to be. Ask yourself if you want to be a landlord, or are you planning on flipping or restoring and reselling properties. What types of properties are you interested in? There are many choices from land, to apartment buildings, residential housing and other commercial real estate. Partner with experience. Real estate agents experienced in investment property deals know what to look for in a deal. You may also want to consider asking a more experienced real-estate investor for advice. If you plan on becoming a landlord make sure to familiarize yourself with the local laws regarding being a landlord. Location, location, location. If you buy a property with hopes of renting it out, location is key. Homes in high-rent or highly populated areas are ideal; stay away from rural areas where there are fewer people and a small pool of potential renters. Also, look for homes with multiple bedrooms and bathrooms in neighborhoods that have a low crime rate. Also think about potential selling points for your property. If it's near public transportation, shopping malls or other amenities, it will attract renters, as well as potential buyers if you decide to sell later. The more you have to offer, the more likely you are to please potential renters. Have capital lined up. Speak to potential lenders or a financial planner about what you will need for assets and cash flow. You will need to have enough assets to handle the ups and downs that could come with investing. Most experts suggest a fallback of about six months of mortgage payments for landlords. You will need this in case or vacancy or repairs. If you're planning to fix up a home and sell it, you will need reserves to cover the costs to maintain the home while it is on the market. Becoming a real-estate investor is much different than being a residential homebuyer. A buying decision is a business decision not one based on emotions.
When you are looking to buy a home or refinance it is important that your credit is in tip-top shape. It is often a credit score that gets in the way of a home buyer and their dream home. Credit today means everything as far as your purchasing power. So if you want to be ready when opportunity knocks read on for some for smart ideas on how to keep your credit score going up.
Everything green is all the rage, and recently there has been an increased demand for green homes. Some experts estimate a projected demand of a $100 billion sub-market by 2016. In 2011, green homes made up roughly 17 percent of the market and are expected to reach two out of five homes by 2016. The list of reasons to buy a green home is extensive. Green homes are friendly to the environment. Consumers also believe that green homes will have better value in the future. Green homes may cost a little more to build now but have shown to save money in energy efficiency over time. According to a survey conducted by McGraw-Hill Construction, ninety percent of homeowners surveyed said energy efficiency is important because of personal values, and because of lower energy bills. They also cited other factors like indoor air quality, material durability, use of post-consumer materials and sustainability-focused waste management practices. Consumers may also be able to save money on their mortgage or receive a federal tax credit for buying a green home or doing eco-friendly home improvements. For certain efficient home improvements, you can receive a federal tax credit equal to 30‰ with a cap at $1500 for the purchase of energy efficient technologies such as