As you consider purchasing a home, there are many elements to think about. You'll need to negotiate the contract, obtain the right loan, and handle the closing process. You are thinking about money the whole time. The problem though is that you may not have factored in taxes. Real estate taxes are a part of both the home buying process and, in some areas, down the road as well. It is ultimately up to you to ensure you pay your taxes promptly and that you plan for them now, before you buy that home. What should you know about taxes?

Paying Your Taxes

In real estate, many people pay real estate taxes. That is, these are annual or every six month payments to the county government. The funds from these taxes are often used to fund schools, county road…

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Your credit score is one of the most important numbers you'll need to consider when buying a home. It is one of the key factors lenders look at when deciding whether or not to lend to you. Don't get hung up on the very specific number, but do spend the time working to improve this number as much as possible. Even just a few ticks upward can help you to see a better interest rate and loan availability than you would have had. The following tips can help you to make that possible.

 

  • Get a copy of your credit report. Check it over. Ensure it is accurate and remove any outdated negative information. Never close an old credit account, though, as this can negatively impact your score.
  • Pay down your debt. Don't add to those credit cards right now. Pay…

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As you get ready to close on your home purchase, one of the steps you'll take is a long walk with your home inspector. The home inspection is an important step because it allows you to learn all that you can about the property you plan to purchase. If you find a problem at this point, you can decide to back out of the contract to buy your home or you can work with the seller to get the problem fixed. The most important part of this process is knowing as much as you can about the property. Here are a few tips for the process.

#1: You Need to Go Up There

Whether it is the attic or the roof, climb up with the home inspector. You'll learn about key problems with your home's systems and, even more importantly, you'll likely learn how to make repairs on any…

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When it comes to buying a home, one of the most important steps you can take is to reduce your debt. Debt from credit cards, student loans, and other debts can lead to significant concerns for lenders who you may be applying for a loan through. In short, lenders want to know that you can make all of the required debt repayments for your mortgage. If you have a great deal of debt already, you may struggle to make your monthly payments, putting the lender in a worrisome position. However, paying off all of your debt may not be a good thing.

Pay Down Debt

It is a good idea for most consumers to work to pay down their debts. That is, you should be avoiding adding to any debt that you have. By paying down this debt balance, you will be creating more gaps…

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When it comes to putting your home on the market or bidding on one that's already there, many factors play a role in the decision of value. In short, the value of any home is what the buyer is willing to pay for it. Yet, figuring out what that number is can be difficult. That is why you will likely have an agent run a competitive analysis on the home, especially if you are listing your home or buying in a competitive market place. In short, it provides you with a better understanding of the home's value.

How Is It Calculated?

The value of a home is ultimately decided by an appraiser. An appraisal is different from a competitive analysis, but the process is partly the same. In short, this process takes a close look at the value of homes that have…

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It is an alluring thought. Purchasing a home for next to nothing, especially compared to other home prices for the same size and type of home, and work on fixing it up. Not only are you going to get a lower purchase price, but you can make the home look the way you want it to. It sounds like a great plan but for the first-time home buyer, fixer uppers can be worrisome. It is always best to work closely with your real estate agent and other trusted experts before you make this decision. Consider some of the factors that may be risks to consider.

The Risk of the Unknown

The biggest reason many experts stay away from the fixer upper even when they are seasoned investors is that there is the risk of the unknown. A home that is in bad shape, such as…

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Is now the time to purchase a home? Buying a home is a big decision in every situation, no matter the time or the area. The key thing to remember is that buying a home now is a personal decision, one you have to make based on whether your individual circumstances are in the right place right now, including your budget and financials. Yet, when you look at the mortgage industry as a whole, you may notice some instances in which there are big reasons to make now the time you buy a home.

#1: Interest Rates Are Low

Compared to just a few years ago, interest rates are low right now. When buying a home, this is one of those factors you simply do not want to pass up on. Lower interest rates mean you'll pay less to buy a home, even by thousands of dollars.

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There are few things that give you more of a sinking feeling in your stomach than realizing that you just bought the wrong house.  To keep yourself from ever having to experience this sinking feeling firsthand, you need to be aware of the warning signs that tell you to think twice before buying a particular new house.  These are the warning signs that every homebuyer should know and look for when they are buying a house.warning_signs_400

Fleeing Neighbors

Are there a lot of homes for sale on the street or in the neighborhood where you are thinking of buying a house?  If so, you want to ask yourself why.  It is a common mistake to focus only on the home that you are thinking of buying, but you should take the time to check out the surrounding area.  If a lot of the…

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buyers__sellers_sign_400It's not unusual for home buyers to have cold feet when buying a home.  In fact, it happens all the time.  The trick is to just get over it.  Of course, getting over it could mean working through the feelings and buying a home or realizing that your cold feet are trying to tell you something and buying a different one.

Consult Your List Of Needs And Wants

The first step to getting over cold feet is consulting your list of needs and wants when it comes to your future home.  If you don't have this list, then take your time compiling it now.  When you have this list in front of you, you can check it to see how close the home that you are thinking of buying fits its criteria.  If it looks good on paper, then move on to the next step.

Consider Your Home…

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curb-appeal_350You want to make the best first impression possible when selling a home, because that impression could make or break the entire deal.  The first impression is made when the potential buyer first sees the house, thus the outside of the house must be dressed to impress.  Here's how you can do that and why it is so important.

It's All About The Outside

It really is all about the outside.  Every potential buyer will decide what tone the viewing of the home for sale will take when they first lay eyes on the exterior of the home.  People know that if you don't take good care of the outside of the house, then you probably don't take good care of the inside of the house either.   

Make It Look New

Do whatever it takes to make your home look like new.  A…

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