Advice for home buyers in Delaware

Buying your first home is an exciting proposition – but it’s also slightly terrifying. The small print, the sales-driven realtors and the abundance of choice make things a little daunting for those who have little experience in the market. It’s enough to send your head into a tailspin. Here’s some advice.

When looking for homes for sale in Delaware, it pays to do your research. If you’re a first-time buyer, make sure you consider the following tips before making that all-important final call.

Be Aware of Market Value

Buying a property isn’t just about what you can afford or whether you like the place or not – it’s also about making a good investment. Do your due diligence on the home you’re considering. Do the following to get your hands on a rough guide price:

  • Consult local real estate agents – don’t limit yourself to a single agent, but go to several. Ask for properties in the local area to get an idea of the market and the neighborhood you’re considering.
  • Past Sales – Many people don’t do this, but it’s a very good indicator of what you should be paying. Go through sales that have gone through in the last year or two.

This will equip you with a very good idea of what you should be paying for a given property. NEVER enter a buying proposition without being aware of the market – after all, you’re looking for a sound business deal as well as a home to live in.

Mind Your Budget

This is a mistake that a large majority of first-time buyers will make. The reason for this is that we stretch out our finances to the absolute maximum – that ‘dream home’ is sometimes too strong a pull, leading people to make bad choices.

Always stick to the budget you’ve set, no matter what. Just a few thousands dollars more can land you in a financial position that may lead to foreclosure in the future. Remember, there are several ‘ideal’ options for you out there – stick to the one you can afford. Use this handy calculator to find out just how you stand.

Boost Your Credit Score

Before you apply for a mortgage, make sure your credit is in top condition. You don’t want to end up with a subpar mortgage that doesn’t give you the best deal possible.

Maximize your options by checking your credit well ahead of time. If it doesn’t give you the results you’re looking for, work on it and try every trick in the book to boost it. Ensure your financial affairs are in order first – only then will you be in a good position to apply for a decent mortgage deal.  This article, from MoneySavingExpert.com, has more on credit scores.

Finally, Do You Really Need to Buy?

Many people jump into buying a home without really knowing whether it’s right for them. It’s often assumed that buying property is the best investment you can make and while this is generally true, it may not be the case in your personal situation.

This isn’t aimed to dissuade you from buying, but rather to advise you to line up your options clearly and without bias. Consider whether buying a home fits into your financial picture. You can always stick it out another year or two and invest then. It’s all about waiting for the right moment.

The Real State of the US House Market

With the economic recession looking to be at an end, there are a number of sectors and markets that are showing signs of genuine repair and are actually encouraging the increase in the global economy.

housing market article pictureOne of the most affected areas was the US housing market with real estate experts such as Fort Myers at a loss as to how to repair the incredible damage that was being done to a once thriving part of the American economy. Fortunately, the strength of American real estate prior to the recession has meant it is one of the first industries to show significant signs of repair and is now the inspiration for other sectors. It is also a strong support for the American economy to pull itself out of the financial problems it has faced since 2008.

The housing market is reported to be two thirds back to normal with house sales currently at pre-recession levels. Sales are up by 29% in comparison to last year although construction rates are still low with a minimal increase of 1% since they were last reviewed in July 2013.

The Bubble Effect

bubble effect article pictureThe recession in the US really struck after the housing market bubble in 2006. The term ‘bubble’ relates to an economic bubble that affected multiple parts of the housing market but most notably and significantly, house prices.

In 2006, house prices began to fall, which carried on, into 2007 and by 2008 they were at an all time low with little warning and no suggestion as to how the problem could be rectified. By the beginning of 2012, house prices were at an all time low and showed no sign of increasing anytime soon, until recently when the recession began to show signs of being at an end and consumer confidence was on the rise.

The economic bubble had a negative impact on home values, mortgage markets, builders and real estate agents all of which are recovering although slower than the valuation of homes.

The Future Looks Promising

 In 2009, the US Government allocated $900 billion to US real estate and this investment has been one of the factors behind the industry being the most successful as the recession begins its end.

For the first time in 5 years, consumers are confident and are investing in property, which is allowing the boost in the housing market to be maintained. Although house prices are still 17% lower than pre-recession figures, the gradual rise and the increase in consumer interest the real estate industry looks set to help the rest of the country come out of the recession and lead by example for remaining industries.

Amanda Walters – This article was written by Amanda Walters, an experienced freelance writer and regular contributor to Huffington Post. Follow her here: @Amanda_W84

Image Source:

http://www.etftrends.com/2012/08/etf-spotlight-small-cap-u-s-real-estate/

Home Inspections are a Vital Part of Home Buying

If you are in the market for buying a new home this is very important to read. When looking at home sin 2005 I was not aware of the fact that you should get a home inspection done, however, my lender actually required it therefore I didn’t have to worry about what I needed to know or not. Having a home inspector come into a home prior to your commitment to purchase this new home can help you in many ways.

For starters, a home inspector will be more aware of damage you are unable to see with your beginning home buyers eye, heck even if you are a second home buyer, having a professional home inspector come into the house to check it out can be a huge benefit! For instance, a home inspector can do a roof inspection, the roof is an extremely important part of your new home because it’s what will keep the weather out. No one wants to purchase a home just to find out that on the first rain storm there are leaks everywhere or worse yet, the roof collapses in on the family.

One of the things that the home inspector found in 2005 at one of the homes I was looking into purchasing was termite damage downstairs. I have to admit I am not a basement sort of person, I will gladly go down and come back up but if that basement is not a finished, full part of the home then you will not find me standing down there for long.  Whether you are concerned about possible damage that is within the home already or feel the home is 100% safe, having a home inspector come in and view the home prior to purchase simply keeps surprises of future damage at a minimum!

Looking for Rentals in Calgary

The Internet is an amazing place. No longer does one need to go out and meet with a real estate agent in person to find the dream home or apartment rental. One can now look for Calgary houses for rent online in the privacy of their own home.

I love that the Internet has open the doors for so many options because I am a work at home mother of three who very rarely wishes to go out to meet with someone having three kids in tow. It’s difficult sometimes to get the time to meet with someone alone and find the perfect home or rental home when you have three munchkins around you 24/7 for the most part.

Surfing the pictures of Calgary homes and some offering virtual tours makes it pretty easy for you to fully determine if this home is the right fit for you prior to even leaving the comfort of your home or office. While searching online make sure to view all important details such as room sizes, how many rooms, bathrooms and be sure to note if the home has an additional cool factors to it that will serve your family’s needs.

Whether you are looking to rent or buy make sure to search for rentals online to save you money and time.

Watch out you Will get the Travel Bug

That is what many said to me the first time I was heading out on a trip in June 2011. All of my friends online warned me that I would catch the travel bug once I flew one time and well I must admit they are correct. I have since gone to NYC for a Ragu event and toured the Unilever kitchens as well as now heading to NYC again for a red carpet premiere. You see, flying one time has me ready to look all over to find a great place to travel again for a family fun vacation.

There are so many places in the United States that I wish to visit, one such place that stands out to me is the possibility of visiting the state of Utah where I could see the gorgeous  Park City homes and take in the breathtaking views! Although I haven’t traveled outside of the East Coast as of yet I know that there are many more states I wish to look into and I also know once my children are adults I may just start looking into relocating because I doubt I will live in NH for the rest of my life.

There are many real estate sites where you can research the real estate in various areas and Park City real estate is one of them. So whatever you may be looking to do; travel for vacation, relocate a family or just simply learn more about other areas of the world then you should make sure you take a peek at all areas of the world before making a firm decision on where to travel next!

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