Obviously people give serious thought to the budget and some basic amenities of a home before they started searching for a house to buy. However, we often don't truly see the whole picture when purchasing a home and, consequently make some costly mistakes. Because this is such an important purchase, take a look at the following tips to help you avoid buying a home that doesn't really complement your needs.
You already probably know how much of a mortgage payment you can afford, and you probably also have accounted for the costs of a down payment and closing escrow. However, there are more expenses to consider and these can really add up. For instance, you definitely need to think about the property tax rates in your new neighborhood. In some states, you might only pay about half a percent of the purchase price for this tax, but in California, you will pay 1% of the price you paid for the house. California has a median home value of about $400,000 and this means you probably will pay more than $4,000 each year in property tax. Add to that your monthly homeowner association dues and insurance costs, and this can be a lot of money each month.
The old adage that "location, location, location" is a huge factor when purchasing a home is absolutely true. While you might love a house, you really have to think about the location because this cannot be changed. Does it back up to a noisy, busy road? Is it across the street from a school? Is it too close or too far away from shops and stores? In addition, drive by the house during different times of day to check out the noise level and the general nature of the neighborhood. If you long for quiet and there are 50 kids living on the street, that's a bad match no matter how much you love a house.
We have all seen people on home buying shows walk into an ugly, outdated home and simply fail to see the hidden potential. Decor can always be changed and most decorative changes are fairly easy to make, although they are sometimes quite costly. However, you might find an amazing updated home that looks move-in ready and want to make an offer. Step back for a minute and think. Does it have enough bedrooms and bathrooms? Does the kitchen have plenty of good cupboard space and workspaces? Are the closets big enough? The bones of a home and the quality of the home are far more important than how it looks.
Sometimes we plan on living in a home forever, but that plan doesn't always work out. For any number of reasons you might need to sell your home, so think about how easy it might be to sell the home if necessary. A home near great schools and close to services on a safe, well-kept street generally sells well. A home with an open floor plan and an adequate number of bathrooms and lots of storage also sells well.
When you are ready to search for that perfect home in Alameda County or Contra Costa County, contact the experts at 1st InSite. This real estate team can find a home that fits your needs and budget. They can help you find Walnut Creek homes for sale, Danville homes for sale, Alamo homes for sale or homes in Lafayette, Orinda, Moraga or any other city that interests you.
You already probably know how much of a mortgage payment you can afford, and you probably also have accounted for the costs of a down payment and closing escrow. However, there are more expenses to consider and these can really add up. For instance, you definitely need to think about the property tax rates in your new neighborhood. In some states, you might only pay about half a percent of the purchase price for this tax, but in California, you will pay 1% of the price you paid for the house. California has a median home value of about $400,000 and this means you probably will pay more than $4,000 each year in property tax. Add to that your monthly homeowner association dues and insurance costs, and this can be a lot of money each month.
The old adage that "location, location, location" is a huge factor when purchasing a home is absolutely true. While you might love a house, you really have to think about the location because this cannot be changed. Does it back up to a noisy, busy road? Is it across the street from a school? Is it too close or too far away from shops and stores? In addition, drive by the house during different times of day to check out the noise level and the general nature of the neighborhood. If you long for quiet and there are 50 kids living on the street, that's a bad match no matter how much you love a house.
We have all seen people on home buying shows walk into an ugly, outdated home and simply fail to see the hidden potential. Decor can always be changed and most decorative changes are fairly easy to make, although they are sometimes quite costly. However, you might find an amazing updated home that looks move-in ready and want to make an offer. Step back for a minute and think. Does it have enough bedrooms and bathrooms? Does the kitchen have plenty of good cupboard space and workspaces? Are the closets big enough? The bones of a home and the quality of the home are far more important than how it looks.
Sometimes we plan on living in a home forever, but that plan doesn't always work out. For any number of reasons you might need to sell your home, so think about how easy it might be to sell the home if necessary. A home near great schools and close to services on a safe, well-kept street generally sells well. A home with an open floor plan and an adequate number of bathrooms and lots of storage also sells well.
When you are ready to search for that perfect home in Alameda County or Contra Costa County, contact the experts at 1st InSite. This real estate team can find a home that fits your needs and budget. They can help you find Walnut Creek homes for sale, Danville homes for sale, Alamo homes for sale or homes in Lafayette, Orinda, Moraga or any other city that interests you.
About the Author:
Madeleine Glazier likes blogging about the real estate industry. If you are searching for Danville real estate agents, or to discover Danville homes for sale, please go to the 1stInsite site now.
No comments:
Post a Comment