Posted almost 8 years ago

A Quick Guide to Buying a House

Whether you're a first-time home buyer or a veteran, buying a home is a difficult procedure.

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Work Out the True Cost of Buying

It's not as easy as get a mortgage, grab the keys and, bish bash bosh, you're in. Buying a home's almost guaranteed to cost more than you think. Here's what to factor in.

Mortgage arrangement fee

Expect to pay your lender an arrangement fee. They vary but £1,000 is typical. In some cases this is non-refundable, even if the purchase falls through.

Valuation fee

This is the fee lenders charge for a valuation to check the property exists and that it also offers sufficient security for the loan. The cost varies according to lender and purchase price, but budget for £300.

Legal fees

Many lenders will contribute to legal fees, although in that case you would have to use a solicitor approved by them. If you pay for your own conveyancing, you're looking at about £500-£800, depending on purchase price.

Ask Questions about the Condition of the Home before Buying

If you know in advance that the home has structural issues or deferred maintenance, you might want to take those problems into consideration before choosing an offering price.

How old is the roof? Newer roofs have a life expectancy of anywhere from 15 to 50 years or more, depending on its materials. Not only do you care about maintaining the roof, your lender might require repairs prior to closing, and who will pay for that?
What is the type of foundation? Raised foundations allow access under the home to reach plumbing and electrical, as do homes with basements. Slab foundations are more common in newer construction. You might ask what existed in that area before the new homes were built. In other words, did the builders put up a new subdivision over a wetland area that is now likely to have issues with drainage or dampness?

Considerations Before You Buy

The first thing you'll need to determine is what your long-term goals are and then how home ownership fits in with those plans. It could be that you're simply looking to transform all those "wasted" rent payments into mortgage payments that actually lead to you owning something tangible. Others see home ownership as a sign of their independence and enjoy the idea of being their own landlord. Narrowing down your big-picture homeownership goals will point you in the right direction. Here are five questions to ask yourself:

What type of home best suits your needs?

You have several options when purchasing a residential property: a traditional single-family home, a townhouse, a condo, a co-operative or a multi-family building with two to four units. Each option has its pros and cons, depending on your homeownership goals, so you need to decide which type of property will help you reach those goals. You can also save on the purchase price in any category by choosing a fixer-upper, although the amount of time, sweat equity and money involved to turn a fixer-upper into your dream home mightm be much more than you bargained for. (To examine your options in more depth, check out "Does Condo Life Suit You?" and "Is a Housing Co-op Right for you?")
What specific features will your ideal home have?

While it's good to retain some flexibility in this list, you're making perhaps the biggest purchase of your life, and you deserve to have that purchase fit both your needs and wants as closely as possible. Your list should include basic desires, like neighborhood and size, all the way down to smaller details like bathroom layout and a kitchen that comes with trustworthy appliances.

Concierge Title™ Service makes a real difference

Artesian Title provides closings with a concierge touch. Our mobile, licensed “Concierge Closers™” are yours when and where you need them. They come to you when you call. They work to your timetable. They communicate in ways you prefer—They’re ready to answer all your questions and provide every document at a moment’s notice Add that to our weekly email—Peace of Mind Fridays™—that provides a progress update on the status of your title case and the real differences with Artesian are truly significant.

In their decades of experience, our team has learned that clients expect top-tier customer service. As the concierge title company, Artesian Title is dedicated providing our clients with the communication, reliability, and convenience to grow their businesses. We’ve managed over 20,000 Florida closings, allowed our clients to close anytime, anywhere, and most importantly, we’ve listened. For ‘Piece of Mind Closings,’ trust Artesian Title.

Location: 6735 Conroy Windermere Rd, Suite 315, Orlando Florida 32835

Operation Hours: Monday to Sunday - 9am to 6pm

Payment: Cash and Financing

Main Number: 407-876-3004

Email Address: [email protected]

Visit us https://artesiantitle.com/

Finding the right agent for home sellers

“The days are gone where a real estate broker simply places a sign in the yard, enters it into (the Multiple Listing Service) and sits around their office waiting for it to sell,” says Damian D. Hall, a real estate broker in Greenville, South Carolina.

For sellers, that means searching for a proactive, technology-savvy agent, Hall says. Because buyers start with the internet, he says “photos must be professional, magazine quality, and the description has to be detailed and really sizzle.”

Also, look for an agent who has some social-media marketing muscle. “It’s scary how much Facebook alone knows about its users, but at the same time it’s pure gold for those looking to put a product — or in our case, a listing — in front of the consumer most likely to buy the house,” he says.

7 Ways a Millennial Buyer Can Come Out On Top: Insider Tips

There are hundreds of home buying guides on the Internet, with very few geared toward millennials. Knowing what we know now — that one of the largest generations in history feels that purchasing a home is a smart financial decision — it’s safe to say that millennials entering the housing market need extra support.

There’s no shame in asking for help, especially when buying your first house. So, we did it for you.

We consulted the experts and came up with seven millennial-specific, real-life tips that can make buying a house easy:

1. Count the costs.

Your lender can help you get a better grasp on your financial picture. But as the millennial buyers surveyed above reminded us, it helps to consider that there are extra costs associated with buying a house. Timothy Wiedman, certified financial planner and retired Personal Finance instructor, lists down payment, buyer’s closing costs, moving costs, move-in costs, and maintenance among some of the biggest.

A Quick Guide to Buying a House

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