Thursday, April 25th, 2013
Are you finally ready to take the plunge? Interest rates are at historic lows, and real estate prices appear to have hit bottom. Going to buy that first home or possibly acquire an investment property? Either way, there are some things to bear in mind before taking advantage of the great deals out there. So what to do before you get your mortgage?
Contact an expert
Start by contacting your banker or a mortgage broker that you know, or by getting in touch with someone that a trusted friend recommends to you. Have an open discussion with the mortgage expert about Read the rest of this entry »
Posted by: Nirish Parsad Tags: What to do Before you Get Your Mortgage
Posted in Buying a Home, First Time Home Buyer | No Comments »
Tuesday, April 23rd, 2013
Buying your first home is serious business. It takes planning, years of savings and a suitable mortgage that fits your income. But, without experience, you can make simple mistakes when choosing your first property.
Follow these 3 must do’s for first time homebuyers to get the right home for you.
Must Do #1: Save More Than You Need
When buying your first property it’s important to determine what the actual cost will be so you can adequately save and budget in advance. Get pre-approved for a mortgage loan from your bank to ensure you can handle payments, interest and taxes on the property. Read the rest of this entry »
Posted by: Nirish Parsad Tags: 3 Must Do's for First Time Homebuyers
Posted in Buying a Home, First Time Home Buyer | No Comments »
Thursday, April 11th, 2013
A home is the biggest investment of your lifetime and you must be very excited, but you may make mistakes when you make it a very emotional process, because chances are that you will overlook what really matters. In most cases, the funds you are using to buy a house are a culmination of your lifetime savings and this is why it is important for you to take your time and consider pertinent issues before making the purchase.
Top 5 things to look for when buying a home:
1. Cost of Buying
When buying a house, most people only look at the basics such as the cost of the house and mortgage down payment. However, there are other costs that need to be factored in an effort to Read the rest of this entry »
Posted by: Nirish Parsad Tags: Things to Look for When Buying a Home
Posted in Buying a Home, First Time Home Buyer | No Comments »
Tuesday, January 8th, 2013
It is common for those who are interested in buying a new home to look for the nicest, largest home they can afford. Nobody wants to buy a home that is too expensive or burdensome on their finances. However, you may have no plans to move in the next few years, and you want to ensure that your home provides you and your family with plenty of space, amenities, and décor to make your time there enjoyable. You can answer the question of how much home can you afford by reviewing a few key factors.
Your Down Payment
It is wise to talk to a mortgage company fairly soon in your quest to buy a home. The days of putting zero percent down on a home are largely gone, and many mortgage lenders will require you to put down a decent amount of money when buying a home:10 to 20 percent down is a common Read the rest of this entry »
Posted by: Nirish Parsad Tags: affording your next home, How Much home can you afford
Posted in Buying a Home, First Time Home Buyer | No Comments »
Thursday, October 25th, 2012
A seller’s market is essentially a market where there are many buyers competing over few homes. Buyers who want to get the homes they want in today’s market will want to do whatever they can to determine how to buy a home in a seller’s market.
One way to be very attractive to sellers is to get pre-approved for a mortgage and obtain a conditional letter of approval from a lender. However, this is not always enough to win over today’s sellers when buying during a seller’s market.
Buyers Must Be Flexible
Serious buyers will need to be more flexible and be willing to work with the seller on the move-in date, the closing date, and the closing costs. Read the rest of this entry »
Posted by: Nirish Parsad Tags: buying during a sellers market, How to buy a home in a sellers market
Posted in Buying a Home, First Time Home Buyer | No Comments »
Monday, October 22nd, 2012
Should you ever buy a home directly from the owner? That is certainly a good question to ask if you are interested in purchasing a home. Legally, you don’t need an agent if you don’t want one. However, you may be better off having someone represent you throughout the process.
Buying A For Sale By Owner Home
Purchasing a home directly from the owner is certainly a trickier process for the buyer. The buyer has to look for the right home, arrange financing and take care of other steps that a real estate agent would do. Negotiating a purchase price is also done directly between the buyer and the seller. There is no real estate agent there to help persuade the owner to accept your price. Go through with the process only if you are confident you know what you are doing. Read the rest of this entry »
Posted by: Nirish Parsad Tags: buying a for sale by owner home, should you buy a for sale by owner house
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Thursday, October 4th, 2012
When you are interested in buying your first home, one of the biggest challenges that you will have to overcome is generating enough money to make a down payment. If you want to be able to come up with enough money for the down payment, don’t just cut out some of your expenses. Instead, boost your income and get the down payment faster. Here are some of the best ideas for bringing in more income for a down payment.
Work Two Jobs
Affording your first home by bringing in more income is one of the best ways to shorten the amount of time it takes to get money for a down payment. If you currently have a job, consider working a second job in your spare time to bring in more money. If you save for a down payment with an extra job, you will also be more likely Read the rest of this entry »
Posted by: Nirish Parsad Tags: Affording your first home by bringing in more income, save for a down payment with an extra job
Posted in Buying a Home, First Time Home Buyer | No Comments »
Thursday, September 27th, 2012
With the housing market still down, and foreclosures common, many people wonder should you buy a foreclosure or not? While you can save a lot of money by purchasing a home that has been foreclosed on, it is important that you know how to buy a foreclosure to avoid pitfalls.
The two main issues with purchasing a foreclosed house is that you are not always able to inspect it before you purchase it. Additionally, if there are people living in the house when you buy it, you are responsible for evicting them. However, by using an experienced agent, you can avoid many of the problems associated with purchasing a foreclosed home.
To begin with, you should look for a real estate agent that has foreclosure experience. Read the rest of this entry »
Posted by: Nirish Parsad Tags: how to buy a foreclosure, Should you buy a Foreclosure or not
Posted in Buying a Home, First Time Home Buyer | No Comments »
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