Tuesday , 19 September 2017
Nate's News

Tips For Buying A House

Tips For Buying A House1. Do not buy if you cannot stay put
If you are unable to commit to staying in one place for at least a few years, then buying a home in Chico Ca is probably not for you at this time. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner – even in a rising market. When prices are falling, it is even worse financially.


2. Start by shoring up your credit
Unless you are a cash buyer you are going to need to get a mortgage to buy a house in Chico Ca. To get the best deal on a mortgage you need to have the best credit history you can. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.


3. Aim for a home you can really afford
The mortgage you will get is normally based on about two-and-one-half times your annual salary. So this will be the maximum price you can pay for a home in Chico Ca. However, you need to factor in your expenses when deciding the highest mortgage you can afford.


4. Choose carefully between points and interest rate.
When choosing a mortgage, you will normally have the option of paying additional points (a portion of the interest that you pay at closing) in exchange for a lower interest rate. If you are intending to stay in your home for a long time (for example three to five years or more) it is usually better financially to take the points as the lower interest rate will save you more money in the long run.


5. Even if you are unable to put down the usual 20 percent, you may still qualify for a loan.
There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a smaller down payment than the usual 20%.


6. Before house hunting, get pre-approved.
Make sure that your mortgage is already approved before you start looking for a home in Chico Ca as that will put you in a better position to make a serious offer when you do find the right home.


7. Get professional help.
Although the internet will give you access too many homes for sale in Chico California it is still advisable to use the services of a professional real estate agent in Chico Ca as they have the negotiating skills to get you the best deal.


8. Buy in a district with good schools.
Even if you do not yet have children it is worth buying in an area with good schools since when it comes time to sell your Chico Ca home you’ll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.


9. Do your homework before bidding.
Make sure that you research any sales of homes in the last two to three months that are similar to the one you are buying. If houses have recently sold at five percent less than the asking price, you should make a bid that is around eight to ten percent lower than the seller’s asking price.


10. Hire a home inspector.
Your mortgage lender will require a home appraisal but as well as that you should also separately hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.


Follow these tips and listen to the advice of the best real Chico Ca real estate agents and you will be on your way to the joy of home ownership.

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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 9/19/17 8:29 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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