Why consider home ownership?
If you’re tired of the limitations and expenses of renting, maybe it’s time to consider the benefits of home ownership. Owning a home allows you to build equity, predict costs more easily than rent, and more.
Watch the video to learn more and click the links below for additional information. If you’d like to explore further if home ownership makes sense for you, our home financing professionals are only a phone call or click away.
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Buying a home can be an exciting journey, especially when you’re becoming a homeowner for the first time. However, the process is often complicated and may seem overwhelming to new buyers. To ensure the path to homeownership is a successful and relatively smooth one, first time buyers should make their financial preparations well ahead of time. This includes checking your credit, researching down payment requirements and getting pre-approved for a mortgage. Continue reading Make 2020 the Year for Homeownership… Getting Your Financing Ready
Buying a home can be an incredibly exciting process! If you’re embarking on this journey for the first time however, it can seem a little intimidating and even overwhelming. But fear not, first time home buyer–although there’s a lot to consider and several steps to take when buying a home, careful planning and educating yourself ahead of time can help make things go smoothly. Continue reading Preparing for the Home Buying Process
If you’re considering the purchase of a home, you may be wondering where to start. Should you begin by finding homes you like online? Should you talk to a mortgage professional first to see what you can afford? And if you talk to a mortgage professional, should you get pre-qualified, or pre-approved? These are common questions for new home buyers, but in this post, we’ll offer some helpful insight into the process. Continue reading Shop for a new home or get pre-approved? Which to do first and why.
Buying a new home is both exciting and scary. After all, a home is one of the most expensive purchases that most people will make, and the mortgage will likely be with you for the next 30 or so years. While finding the property of your dreams can make you want to bid immediately, it’s best to use caution. Take some time to learn these critical stats about the home that you love. It may save you from having significant repair bills soon after purchase.
What To Know Before Making an Offer
Before you make an offer on a home, you should find out as much about it as you possibly can. At the very least, this includes when the home was built, how old the appliances are, when the roof was last replaced and whether there are any existing or previous flood damage or mold problems.
Age of the Home
You should first find out what year the home was built. In most cases, the seller can furnish this information. Otherwise, you can visit the courthouse and view property tax records for the home which will also include the construction date. If you’re lucky, your city has placed this information online so you can perform the search from home. Knowing how old the home is will alert you to potential problems like old copper pipes which may need to be replaced or the possibility of lead paint or asbestos. Knowing the age will also aid the home inspector in evaluating the structural integrity of the home.
How Old Are the Appliances and the Roof?
Some of the most costly repairs in a home are replacing the roof and the appliances. In addition, constantly failing appliances are an annoyance to daily living. Before making an offer on a home, make sure that you know exactly when the roof was last replaced and the age of all appliances in the home. Properly installed roofs can last for 20 to 25 years, so it’s good to know how close you are to needing to cough money up for a new one. If the home owner does not know when the roof was installed, hire a property inspector or a roofing professional to examine it and give you an estimate of its age.
Flooding, Water Damage and Mold
Water damage and mold are more than aesthetic problems, they are health hazards too. Other than obvious signs of black, spotty mold, a musty or moldy odor is a good indicator of water issues. Other indications are flaking plaster or walls that don’t look quite flat, which can indicate an improper repair. Mold and mildew can also hide under flooring where a leak has occurred, sometimes unbeknownst to the home seller. Pull back a corner of the carpet in rooms near water or in locations where signs of ceilings leaks exist. If the home has a basement, make sure to inspect it thoroughly for water issues, as these areas commonly flood when a home has improper drainage.