If you’re thinking about buying a home, there are some things you really need to make sure you watch out for. Number one, you’ve got to make sure you actually can afford the property, right? You’ve got to think about your closing costs and also your payment. Sometimes what you actually qualify for isn’t exactly what you should be spending budget-wise, if that makes sense. So that makes a big deal. Think about what future maintenance the house is going to be and add to those costs.
Also, when you’re buying a house, guess what? The higher the school scores, most likely your property’s going to be able to maintain its value more. So it’s really, really important that you think about the school scores in the area.
Here’s the deal. Guess what? Many people right now can actually buy a house. They don’t even realize it. Have you had a short sale, a foreclosure or bankruptcy? Guess what? You probably can buy and you don’t even realize it. So feel free to reach out and we’ll get you in touch with a lender that can help you because maybe we can get you into a house much sooner than you think.
Now, here’s the deal. When you’re buying a house, make sure when you get qualified, it’s the very first thing you need to do. Get qualified. Find out what you actually are comfortable paying. Sometimes you might be able to get qualified for more, but make sure it’s within your budget. Make sure there are leftovers for incidentals that could happen, for property maintenance and for things like that.
Now, here’s also something to think about. School scores are super important. When you’re buying in an area, make sure the school scores in the area are high. The higher the school scores, typically the higher the property values will continue to maintain and continue to be.
This is huge when you go into contract and make sure you absolutely do not take out any other forms of credit, any other credit lines. All right?
Now, depending on whether it’s a buyer’s market or a seller’s market, it’s going to depend upon what you’re going to offer. How many offers are on the property? There are so many things to consider. If there are multiple offers, you might want to make sure that you make it, you offer a little bit higher. Don’t forget about the appraisal. The appraisal is important because if the house doesn’t appraise, you may have to pay the difference between the appraised value and the purchase price.
There are contingencies when you’re buying. There’s a home inspection, roof inspections, there are disclosures, there are reports. You’ve got your timeframe to have your inspections, to make sure that you actually qualify for the property, to make sure the home appraises.
There are so many things to think about when buying a house. So do me a favor, if you have any questions at all, reach out to me, Krista Mashore, Homes By Krista. And remember, if you’ve had a short sale or a foreclosure or bankruptcy, you may be able to buy and you don’t even know it. Make it a great home selling and buying day. To see more videos like this or for more information, go to Krista Homes dot com and thanks so much for watching.