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What First Time House Buyers Should Know
Ask any house buying agent, so much has evolved in the real estate market past a couple of years. So here we have developed a guideline for people who are buying houses for the very first time, with or without the help of exclusive buyer agents, who can help a lot.
Now You Can Easily Get A Mortgage Loan
In 2018, you can now easily get a loan to pay your mortgages from the bank. Lower down payments and higher debt levels are common these days. Some people get loans for as little as 3 percent down.
Limit of Debts Has Increased A Lot
It is now easy to get loans for paying your mortgages, especially buyers who have higher debt levels.
But Prices of Houses Are Not Rising That Fast
In 2017, the prices of houses have not been raising that steadily as it did before. In 2018, we can see more declines in this regard. In a year up to 5% prices can increase only. This will affect your buying power a lot and the choice of a house buying agent or an exclusive buyer agent.
Rates of Mortgages Are Increasing with Each Year
Lots of articles have forecasted that throughout 2018, mortgage rates have been rising very steadily and during the second half of 2018, they will rise up to 5 percent. This means that house values will also raise a lot!
Properly Research and Decide Your House Location
Do know properly where you will be living. Is the water supply fine? Is there any other problem related to the neighborhood? Are there any good schools or parks around? Is there any commercial area near where you can shop easily? Is it too lonely a place to live from the usual hustle-bustle or is it a noisy place? Research well about the area you want to shift and buy a house. After all, you will be spending a lot of money, and energy on it.
Do Proper Renovations Before You Move in The House
Before moving in, make sure all parts of your house are well renovated and fixed. This includes the doors, windows, floorings, bathrooms etc. Also check for any sort of pests, molds or nests in the house. It can be dangerous for people living in. You will be living there for a good amount of time and also will be spending a fortune on it so make sure to check each thing properly before you move in. After moving in, you will not be able to carry out renovations as swiftly, since you will have your personal belongings lying everywhere and there will be no privacy of your home maintained.
Take Help of a Real Estate Agent
Since a lot of new buyers do not know much about this field, it is better to take help of a specialist such as a house buying agent or an exclusive buyer agent to help guide and help you.
Categories: Real Estate