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Archive of posts published in the tag: Home Buying

Tips on Buying a First Home

home buying

A shelter is one of the primary basic needs that everyone needs. You can build your own house, stay in a rental house or you can decide to buy a home for you and your family. You can decide to purchase a townhouse, a traditional house, a duplex, or a multi-family house depending on your home-ownership goal. PHM real estate will help you to get the house of your dreams.

It is very easy to get ripped in the home buying field and make mistakes that will not make you happy. As a first-time buyer, here are some of the things you should put into practice.

Check Your Financial Health

It would be best if you did serious auditing of your finances before choosing the home you would like to buy. The auditing outcome will let you know whether to buy the home or not. It would help if you looked at your savings, check your credit, and review your spending. Make sure your account for everything like food, car fuel, car maintenance and payments, clothing, school fees for your children, and also for entertainment.

What Features You Want Your House To Have?

You should check a house that has features like one or more fireplaces, stainless steel appliances, hardwood floors, granite counter tops, central air conditioning, and a walking closet in the master bedroom.

buy a house

Don’t Worry About Cosmetic Issues

When I am talking about cosmetic issues, I’m talking about when you walk up to a home and think to yourself. Why did the seller paint this home pink? Or walking into a bedroom and thinking I hate these red walls or going into a kitchen and start hating the counters, or maybe the backslash is just super ugly. There are way too many buyers out there who can’t seem to overlook these things and otherwise pass up the perfect property for something that could probably be changed out on the weekend.

Anytime you’re going and looking at property, you need to look at three things, and also, the most important is the property’s location. This is something you’re stuck with. You cannot change, no matter how much money you have. Do you live on a busy street? Do you live next to a freeway? Do you live next to the team?

Consider the Neighbor Noise

Even though neighbors come and go and chances are, they will not be noisy forever, at least understand what you’re getting yourself into. Sometimes you might find that you have a neighbor who loves to party 24/7 or plays really loud music, maybe of a neighbor who likes to play the drums or perhaps a neighbor whose kids are shouting at night with the family.

It’s just essential to understand what you’re up against and as go at different times, especially at night or on weekends, then listen and see if there’s anything you might not be able to live with.…

Top Best Ways To Purchase A Home

home

Owning a house to live with your family or partner is one of the greatest achievements for many people. As much as homes are expensive, people use different methods to own one. If you are planning to buy a home now or in future, it is thus, crucial to understand the best ways you can opt to use.

Top best ways to purchase a home

Cash purchase

While this option is rarely used due to the value of homes, it is a viable project for people who earn a decent salary. However, it will require a lot of sacrifice for saving to be possible. For a working couple, they can live a low profile life for a couple of years and save for the house. Cash buying is the best process as one is left without any debt obligations to struggle with.

beautiful house

 

Using a mortgage

Mortgages are limiting to people working for the government or well established private companies. However, most people may be locked out of benefiting from a mortgage due to the nature of their work. Those working under short contracts can hardly benefit from this the house mortgage since they do not have a job security. A house mortgage loan goes for many years, and if one loses the job, the financier can claim the home to recover their money.

Using normal loans

Any person with good credit score and a stable source of income can benefit from normal loans through different financiers like the banks and SACCOs. The beauty about the normal loans is that they may not care what you will do with the money as long as you honor the repayment plans and the interest rate. Furthermore, they do not dictate on the duration or repayment like the mortgages. Most financing institutions have good lending rates which are affordable to most people.

new house

Buying a new house after selling the old one

If you own a home which is now old or at a location, you do not like, then one can sell it and buy a new house. The process may require top up of some money or leave you with surplus depending on the price of the new house.

It is crucial to plan well before selling your old house to avoid getting stranded during the purchase of the new home.…