Wednesday, July 20, 2011

Steps To Take Before You Buy A Home

The prices of South Jersey Homes dropped and although this may look really enticing, it is not advisable to buy impulsively without thinking of the pros and cons of home buying. It is better to take small steps than jumping impulsively and regret later.

Step #1 Consult a broker

Look for a broker in your area that has spent good long years in the field. Although you can consult your real estate agent regarding possible homes that fit your requirements, a broker is more knowledgeable of houses for sale in your area.

Step #2 Get an appraisal

Getting an estimated value of the home you want to purchase will give you a better idea if the seller is asking for the right price or will give you a clue on how to negotiate and eventually get the best deal based on the appraised price. If the appraised price and the actual price of the home is similar then this is a good sign that the seller is honest enough in pricing his Baltimore MD property.

Step #3 Find out the tax assessment

Consider residential properties with low property taxes when you are looking for a home to buy. Be aware of the rise and fall of home values because if home values go up, property taxes also increase. And while price goes down, property taxes also go down. By knowing all these, you can take the chance and ask for lower appraisals which means lower property tax.

Step #4 Ask for utility bills

Home inspection is a must when you are trying to evaluate the physical condition of the home you are interested in buying. Also, ask about the utility bills of the home you are interested in buying. In this way, you will know of the home’s energy consumption and if there are any problems associated with it.

Year 2010 has been devastated with the consequences of homeowner's not being able to pay their mortgage on time which resulted in losing their homes in South Jersey which resulted to more than 100,000 homes. So before you actually get excited in buying your dream house, there are steps that you need to take in order to avoid the mistakes most home buyer’s made.

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