Buying a New Home

Purchase the Newly-Built Home Of Your Dreams In Five Easy Steps

Purchase the Newly-Built Home of Your Dreams In Five Easy Steps

Buying new home construction can differ greatly from purchasing a previously lived-in dwelling. While buying an already-established home entails working with prior owners, those interested in newly-constructed properties will be dealing directly with the builder. This can actually work to your benefit, as many owners increase their selling price based on an emotional response to all the great memories created in their home.

However, other more practical concerns will also play a significant role. These include things like setting up financing and establishing a realistic budget, as well as acquiring pre-approval from a bank or other financial entity. Buyers must also consider less obvious expenses related to property taxes and maintenance costs, which can add up quickly. Failure to evaluate each detail on its own may result in a much higher final cost than initially expected.

Because the overall process can be quite challenging, those interested in purchasing

Five Things To Remember When Considering New Home Construction

Five Things To Remember When Considering New Home Construction

As many home buyers are already well-aware, the real estate market has been on an upswing as of late. Despite
this encouraging development, the housing inventory remains rather tight, which can greatly impede buyers when searching for the homes of their dreams. In this respect, new home construction can be quite appealing,as obtaining a newly-constructed property allows owners greater input into the way a home is designed and built.

All over the country new homes are being built every day, which provides many great opportunities for investment. While this may benefit some buyers, purchasing newly-built properties may not fit into the lifestyle of every potential homeowner. When considering the purchase of a new construction, keeping the following five items in mind can help determine whether this option will work best for you.

1. Early Buyers Are Often Privy to Better Prices

Creating positive buzz can be vastly important to many builders. Getting a number of homes contracted

There’s No Place Like Home – The Why Or Why Not Of Building A New Home

There's No Place Like Home - The Why Or Why Not Of Building A New Home

So you’ve decided to buy a home – congratulations! For many people, this is the biggest purchase they will make over the course of a lifetime. Because of this, however, there are some associated stresses due to what’s plausibly a long and difficult process. You may be wondering whether you should buy an already existing home, or build one yourself. Here are some pros and cons of each potential decision.

Pros of Building Your Own Home:

Customization

If you build your own home, you are in the unique position of being able to direct a vast array of choices. You can essentially get the house to be very close to, if not exactly, the way you want it. Your developer or builder will work with you, and you can direct him or her on things such as paint colors, wall placement, etc.

Newness

Most homebuyers prefer building a home or buying

Top 10 Tips For Buying New Construction

Top 10 Tips For Buying New Construction

Top 10 Tips for Buying New Construction

Purchasing new home construction requires a more thoughtful approach than typically associated with buying an already-established dwelling. This is because there are many diverse factors a buyer must take into account to ensure they are fully satisfied with the acquisition. Everything from the area where a property is located to selecting an experienced agent should be considered before making any lasting decisions.

A bit of planning and forethought will help virtually all buyers obtain the property of their dreams. Employing the following tips can lead buyers on the road to their new home, while also assuring they receive the best possible value for their money.

  1. Prior Research Is Crucial

Getting a read on your builder’s reputation is a must, which requires doing a bit of research. Online reviews are ideal in this case, because they can allow you to identify trends in your builder’s previous working

Moving In, Moving Smart: How To Get Financially Ready For A New Home

Buying a home is a major milestone in the lives of most people, signaling adulthood, responsibility, and security. Make sure you know how to get financially ready for a new home by following a few simple tips.

Check your credit.

This is a refrain you’ll hear over and over again and for good reason. Your credit score is the first thing mortgage lenders will look at and is an absolutely critical factor in determining your interest rate. The best rates go to people with FICO credit scores over 740. Even a one-percent reduction in your interest rate can shed thousands from your housing payments over the life of a 30-year loan.

Save for a down payment.

Lenders generally like to see a down payment of at least 20 percent. If you have saved this much, fantastic—you’ve greatly reduced your interest payments over the next few decades. However, if you don’t have substantial savings, don’t despair.

Property Investing From The Ground Up: New Construction Checklist

Property Investing From The Ground Up: New Construction Checklist

Investing in a property that is new or under construction is an exciting prospect. However, this excitement naturally comes with uncertainty since the project is not yet complete. If investing in an emerging property, investors should develop or follow a new construction checklist to ensure that they reap rewards from their investment.

1. Acquire a real estate agent

It is essential that a potential investor acquire an independent real estate professional to give impartial advice, rather than simply relying on what the developer tells you. Receiving third-party expert advice will help you make decisions based on facts rather than on potential misinformation.

2. Make sure you trust the developer

Developers will be the source of much of your information about the property. Therefore, it is essential that you do research on the developer to make sure that he or she has good business practices and can be counted on to finish projects. One risk of

Making Sense Of A Good Faith Estimate

Making Sense Of A Good Faith Estimate

Making Your Good Faith Estimate Work for You

When looking to financing a new home, the first step you should take is getting a good faith estimate, or GFE. Making sense of a good faith estimate can be tricky, however. It is important to remember that your GFE is only an estimate. It is supposed to provide you with a way to compare different loan options in an efficient and convenient manner so you can be prepared. The specifics may change slightly once you agree to the terms of a loan, so a GFE only acts as a general overview.

How Do You Receive a GFE?

A good faith estimate is provided when you apply for a loan. There are exactly six pieces of information required to receive a GFE: your name and social security number, the home’s address and estimated value, your income, and the size of your loan. Nothing else is required of you, which