|
Determine What Type of Home You
Want to Buy
There are several forms of home ownership:
single-family homes, multiple-family
homes, condominiums and co-ops.
-
Single-family homes:
One home per lot.
-
Multiple-family
homes: Some buyers, particularly first-timers, start
with multiple-family dwellings, so they'll have rental income
to help
with their costs. Many mortgage plans, including VA and FHA
loans,
can be used for buildings with up to four units, if the buyer
intends
to occupy one of them.
-
Condominiums:
With a condo, you own "from the plaster in." You also
own a certain percentage of the "common elements" -
staircases, sidewalks,
roofs, etc. Monthly charges pay your share of taxes and
insurance on
those elements, as well as repairs and maintenance. A
homeowner’s
association administers the development.
Decide What Age and Condition of
Home You Want to Purchase
Consider Resale Potential
Act Decisively When You Find the
Right Home
-
Before you begin the home buying
process, resolve to act promptly
when you do find the right house. Every REALTOR® has stories
to tell about
a couple who looked far and wide for their dream home, finally
found
it, and then said, "We always promised my Dad we'd sleep on
it, so we'll
make an offer tomorrow." Many times the story had a sad ending
- someone
else came in that evening with an offer that was accepted.
Resolve that you will act
decisively
when you find the house that’s clearly right for you.
This is particularly important after a long search or if the house
is
newly listed and/or under priced.
|
|
|