4 TIPS FOR HOME BUYERS
1 . KNOW YOUR FINANCE OPTIONS
Knowing how much you qualify for saves time and frustration . Discuss with a reputable and experienced lender the different types of loan programs , and decide which type of program will work best for you based on your needs and objectives . There are literally hundreds of different types of programs available . Make an informed decision on which is right for you - today and in the long run . Important items to consider include : When to lock into an interest rate , First Time Programs , Zero Down Programs , pros and cons of government backed loans , etc .
2 . HAVE A PROFESSIONAL HOME INSPECTION
Inspections may be written into the offer as a contingency of the contract . If there is a defect uncovered during the inspection process and the seller will not correct it , you don ’ t have to proceed with the transaction .
3 . KNOW THE FACTORS THAT AFFECT RESALE
Prepare for the future . Even if you intend to occupy the property for the rest of your life , things can change that affect resale price and the overall quality of the home .
Other Factors to Consider :
• Is the home the most expensive in the neighborhood ?
• Is the home on or near a quiet street that could eventually become a highway ?
• What is the zoning potential for the vacant lot next door ?
• What is the potential for appreciation ?
4 . KNOW THE TAX IMPLICATIONS
Home ownership is one of the last few “ tax breaks ” for most Americans . The tax ramifications of buying or selling should be known BEFORE a decision is made . Capital gains laws and tax codes change frequently , and an uninformed decision could cost you thousands . Be sure to consult your tax professional regarding any questions or concerns you may have .
AN ORIGINAL PUBLICATION | HUGHES REAL ESTATE GROUP OF SILVERCREEK REALTY GROUP | 3