Tips For New Homeowners and First-Time Buyers ( What You Want To Know Wednesdays )

Scout the neighborhood – Visit your prospective neighborhood a few times on different days and at different times to get a feel for what the environment is. Also, ask the surrounding neighbors what the schools and business are like.

Tackle one project at a time – Start one project and finish it before moving on to the next project to save yourself some stress and expense. Also, do not get used to living with half-finished projects.

Make a homeowners journal - Use a binder or an accordion folder to keep all insurance papers, repair receipts, and other important paperwork pertaining to the house in one place. This will come in especially handy if you want to sell your home.

Get to know your home before making big changes – live in your home for 12-18 months because starting any major renovations. You may decide to go a different path the longer you live in a home.

Budget for trouble – Anything can happen from burst pipes, to broken furnaces, be as prepared as you can by starting an emergency savings account.

Verify everything - When buying a new home as that the seller include a full written disclosure about previous remodeling, repairs, old damage, leaks, mold, anything that pertains to the home. Verify that information with the city or county and get it all in writing, including zoning and permit history.

Get a home warranty – A home warranty will cover the repair or replacement of several major appliances and home system components that happen within the first year of owning your home. The seller may even sweeten the pot by covering the cost of the home warranty.

Check the crime statistics in the neighborhood – Also, be sure to talk to neighbors about crime in the neighborhood as well.

Check in with the neighbors – Your neighbors will have all of the inside information about the best plumbers, electricians, and other pros.

Offer to buy tools or furniture – If you’re buying from a seller that is downsizing you might be able to get a great deal on tools, furniture, or appliances.

 

*msn.com

 


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.