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A Guide to Acquiring Your Dream House

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By : Sonia Smith    99 or more times read
Home buying is one of the major decisions you have to make and possibly represents the sole biggest financial transaction in your life. Buying a house not only means dollars-and-cents investment, but also proves to be your lifetime investment.

Buying a home produces a sense of stability and identity for your entire family. Despite how times change, home ownership remains a cornerstone of the American dream. The succeeding items are a guide to acquiring your dream house, whether you are a novice at home buying or needs a brief refresher.

  1. Shop around town for your dream house and get the best deal possible. Do an investigation of the growth in every market and take a list of zip codes to your real estate agent. Let him or her look up the one to five year changes in prices of homes in those places.

  2. Make your home hunting faster and easier by browsing online. There are several websites that give detailed information on properties that can help you find the house you dreamed of.

  3. In acquiring your dream house, the most important thing to consider is its location. Make sure you check out the nearness to the best schools, city centers, and transportation, culture and work centers. Nevertheless, take into account where you prefer to live. Even if the house and the location are wonderful, if the neighborhood looks untidy, if there is a swampy backyard and the lot does not have trees, you might pay the price when it comes for you to move to a different place later.

  4. Be cautious of whom you are talking to when it comes to home deals. The agent of the seller will look for the best price possible for the property. Do not reveal the amount you can spend and your buying motivations. This will only give them an occasion to increase the asking price.

  5. When you tour a house, make sure to evaluate the property thoroughly. Find out the exact value of the house and at what premium is its asking price.

  6. Bear in mind that a home is an investment so you should treat it as one. Do not worry on the current bewildering market conditions. If the home depreciates in three years time, you will likely live in it for seven years, at this time you might come out ahead.

  7. Take a quick look of your finances. Determine the mortgage payments you can afford, benefits of equity, and your tax benefits as a homeowner are important considerations. It is also helpful to get pre-qualification or pre-approval of a home loan.

  8. Choose the right mortgage lender for you. Along with the fees, try haggling on the interest rates. A lender is the only one who can determine the interest rates on a conventional loan and this gives a good opportunity to negotiate. Shop for as much lenders as you can and find the one that best suits your needs.

  9. On closing, bear in mind that all negotiation advices are meant to get you the best possible deal. If you get an offer that seems too good to be true, it probably is. The important thing here is the terms and fees initially offered may not be the last word. You could find a great deal as long as you ask.

  10. When making a home offer, stay calm and objective. Let your agent act as your liaison with the seller or the seller’s agent. When your offer is accepted, be ready to seal the deal with earnest money. This amount is a percentage of the purchase price and indicates your willingness to buy it. Contact your realtor to determine the amount of earnest money to prepare.
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