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Important Things Every Home Buyer should Know

Buying a home is an important decision. It involves channeling a large portion of your savings for one purpose. If you are a first-time buyer or buying a home, you should know some of the things to find out the pitfalls in buying the house. Following are things that you should know.

Author: Oren T Dorell
Date: Feb 18, 2014 - 7:12:41 AM

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Buying a home is an important decision. It involves channeling a large portion of your savings for one purpose. If you are a first-time buyer or buying a home, you should know some of the things to find out the pitfalls in buying the house. Following are things that you should know. They are likely to help you while buying a new home.

>Find a good realtor who you can trust because s/he is your best investment adviser and s/he saves your money from unprofitable investment. Their expertise can make a difference in the bargaining involved in the investment. Thus, they help you make the decision. Check their background: how they do business, how they deal with clients, etc., from clients.

>Fix a budget for buying a home so that it can be easy for you in the deal.

>You should buy a home where there are facilities like good schools, transportation, etc. This will be convenient to you and kids.

>Make sure to take professionals' help if you are not sure how to proceed.

>Do your homework before bidding.

>Check out for neighborhood whether it is good or not.

>Property taxes in some states are paid in installments. Therefore, it is better to check it out before you buy.

>Sometimes taxes can be deductible based on property taxes and interest on your loan.

>If you are investing in buying a new home, it goes up in value over time. Therefore, it is a sensible decision.

>Part of payment to your mortgage goes to pay off the principal and the other goes to paying the interest.

>Whatever investments you make now and in the future, your home will be one of the few investments that you can enjoy by living in it. And the other investments will, hopefully, generate cash or be helpful when you retire.

>Avoid going to only one home for checking while buying. Make sure to go around for multiple number of homes so that you may get a correct home based on your investment.

>Realtors follow a strict code of rules. Not all real estate agents are realtors. A realtor is one who is a member of the National Association of Realtors.

>Realtors cannot receive any compensation from people that they refer to you according to the Real Estate Settlement and Procedures Act (RESPA).

Ask your real estate professional what he/she will do to keep you informed. Your real estate professional should give you the highest level of service and advice.

Knowledge-4-success.com is a website mainly dedicated to small businesses. It offers small business owners a wide range of insightful and informative articles covering various topics on business planning, books to read, self-development, technology, marketing and many more that could help small businesses survive and succeed in today's competitive world.

View all articles by Oren T Dorell

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