buying a home « Personal Finance Blog

Posts Tagged ‘buying a home’

8 Tips For Making a Lowball Offer on a House

October 11, 2011

Hoping to take advantage of the distressed real estate market and get a great deal on a new home? In many parts of the country, there are more homes for sale than there are potential buyers, putting you squarely in the driver’s seat when looking to purchase a house. There is no precise definition of a “lowball” offer, but it is generally understood to mean a price that is substantially below the asking price or even market value.

To help you find your dream home at a discount, consider the following tips for making a lowball offer.

Pros and Cons of Paying Cash for a Home

September 20, 2011

Considering paying cash for your dream home? So are more and more people. The number of all-cash deals has risen 25 percent from a year ago, making up 30 percent of May 2011 home sales, according to the National Association of Realtors. These all-cash buyers are typically either trading down for retirement, investors or wealthy folks. Learn the pros and cons of paying cash for a home, and where this is an option for you.

Home Buying: Get Your Priorities in Order

September 16, 2011

Finding and viewing houses during the home buying process can be dizzying, especially for first-time home buyers. Before you start looking at homes, it’s important to set your housing priorities. We give you a few items that should make your list so finding the right home is a breeze.

Is It Better to Rent or Buy a Home?

September 8, 2011

There is no doubt that the prices of houses are making it a highly attractive time for people to buy a home. This is not the case for everyone, however. Just because the prices of homes are right does not mean that it’s the right time to buy. Renting may be the better option, depending on your own personal financial situation and a few other factors.

Sell Your Home Faster by Making It FHA-Friendly

September 2, 2011

To qualify for a Federal Housing Authority (FHA) home loan, the property you are buying has to meet certain standards. While the FHA does not fund the mortgage directly, the government agency does insure the lenders that offer FHA loans to homebuyers. Find out how to make your home a best friend of the FHA, so it’s easier and faster to find a buyer.

Home Inspection: Don’t Buy a House without One

August 31, 2011

The cost of homeownership certainly doesn’t start and end with the monthly mortgage payment. When it comes to buying a home, the old adage, “Don’t judge a book by its cover” applies.

A home inspection is a small expense to pay upfront for a thorough inspection of your new home. It will identify any existing problems with plumbing, electrical, roofing and other home improvement matters, or what issues may arise in the near future. Learn more about home inspections and how to ensure you’re buying the home of your dreams and not a money pit.

Buy a New Home or Remodel Your Existing One?

August 26, 2011

In a housing market that has gone haywire, many homeowners are debating within their own heads or even aloud with spouses or roommates: should we move or make improvements to the home we already own? The truth of the matter is that more homeowners are choosing to stay and fix up their own home rather than move – even though the price of buying a new home is relatively inexpensive right now.

Find out the pros and cons of both moving and remodeling so you can make the decision that is right for you and your family.

Is Now a Good Time to Buy a Home?

April 26, 2011

Since the housing bubble burst more than two years ago, families all across America have been holding onto to their houses. Many who considered selling decided to wait, which is good because many who considered buying decided to wait, too. But there are some indications the real estate market is beginning to recover. Depending on where you live, now may be a good time to think about buying (or selling) a home.

The Best Area to Shop for a Home

April 12, 2011

Though the United States is grinding its way through a slow economic recovery, many parts of the country are still experiencing high unemployment and low housing prices. Experts are concerned that some of the hardest-hit areas have not yet bottomed out in terms of real estate prices. News like that is preventing many would-be buyers from shopping for a new home. Those same experts, however, acknowledge that there is one region in particular that didn’t suffer the same dramatic setbacks as the rest of the country. Find out what that area is and why it’s a hot home buying market.

5 Questions to Ask Yourself Before Buying A Home

March 14, 2011

A recent segment on NBC’s TODAY Show revealed that NOW is the best time to buy a new home. Not only are prices at an all-time low in many cities, but most mortgage rates are less than 6 percent. With higher unemployment rates and more foreclosures, buying a home is more affordable than it’s been in years. But before you buy, you should ask yourself these important questions.

Buying a Home? What You Need to Know about Home Loans that No One Ever Tells You

January 7, 2011

Get the inside scoop from a mortgage industry veteran about buying a home and what you should do – and what you shouldn’t – to ensure a smooth and quick mortgage experience.