What to Know When Buying a Home

by Erika Torres
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Buying a house can be a daunting task for first time buyers, but fret not, there are plenty of resources available online. From shopping for the right home, all the way to obtaining the right mortgage, there are resources galore that can answer all of your questions right from your comfy computer chair! Just remember, there is a lot more to buying a house than simply selling out a down payment and signing some paperwork, so pay attention to the helpful tips below.

To me real estate agents are a thing of the past. You pay someone a either a portion of your home sale, or as a buyer, you give up some of your bargaining power due to their commissions. With the power of the internet today all you need is a computer and some helpful real estate websites and you can find any home available that you want. There are sites that will let you limit your criteria to location, how many rooms, square meters, and other desirable amenities.

Finding the right home loan is also important as this something you could carry with you for the next 20 or 30 years. Not only do you want the right interest rate, but the right term, and a reputable home loan company that won’t overcharge you on fees. A company like NPBS offer a wide range of home loans that you can view conveniently from your own home! Again, finding a great company online is a huge benefit since they tend to charge lower fees. Make sure you get full disclosure on the loan fees, interest rate you will be paying, and how long the term lasts for. Remember, sometimes lower rates can be more risky if it shortens the term length on the loan, that simply means you will be paying more money over fewer months. If you can afford that then great, if not then watch out.

Lastly, make a budget for all of the expenses you will incur once you own the home! Often times potential home buyers forget about this very important aspect. Things like utility bills, cable and internet, and even trash removal can add up. Failing to account for this during the home buying process might make you think you can spend more on a house than you can afford. A word to the wise, be familiar with all the potential costs before closing on your new home!

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