Home Buying Tips You Might Not Know

Posted by Admirals Cove Homes on Jul 15, 2013 in Home | 0 comments

You already know things like you need to get pre-approved for a loan and that you should hire a realtor in your market. Here are some home buying tips that you might not already know to find the perfect home in Admirals Cove.

Bigger isn’t always better- It’s ok if you want to buy a big house, but bigger isn’t always better. The value of the biggest house in the neighborhood doesn’t always increase at the same rate as the smaller houses do. The biggest home in the neighborhood actually raises the home value of the other homes in the neighborhood.

Watch for undercover costs- Many people purchase a home thinking that their monthly mortgage payments can be the same as what their rent payment was. The problem with that, is that there area costs that are not accounted for in the mortgage. Closing costs, property taxes, homeowner’s insurance, homeowners’ association dues, and home repairs are some of the most common expenses that aren’t factored into the monthly mortgage costs.

Don’t obsess over the market- While it is smart to know what the current market is doing, you don’t need to obsess over it. The best time to buy a home is when you are ready and when you have the means to purchase it. While you might be able to save a little money later on, the interest rates might not be as good. As a result, you shouldn’t obsess over the market.

For more information on home listings in Admirals Cove, contact Rob Thomson and the rest of the Admirals Cove team at (561) 743-0344 or acteam@wfpcc.com.