Buying a home is not an easy process. Buying or building a home is an excited and one of the most important moments of your life.
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However, if you want to perform well throughout the whole buying or building process, then you should follow some steps.
Building
1. Before building a new home for you and your family, make sure your hired architect and contractor have a history of working together. Working together as a team is critical for your project and your budget. Construction process is a complicated and long term process and many problems could arise. If they don’t agree and solve together every issue, that could cost you time and money.
Before hiring an architect, check their references and if everything is OK, ask him to recommend a builder.
2. It is also, all right if you hire first the builder, and ask him to recommend an architect. However, the best way to start your house construction is to hire first the architect. A good architect can design a perfect plan according to your requirements and complied with all building codes.
3. You have to pay the builder when the job is done. Be careful with the total sum due to your builder. Make sure he have paid all the subcontractors, otherwise you may have several liens on your new home. Ask your builder to prove the subcontractors payment. It is a good idea to pay the subcontractors yourself.
4. When you are approved for a mortgage, don’t take the highest amount of money. It is wise to take an offer with 15-20% less, just in case unpredictable can happen.
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Buying
1. If you decide to buy a home, the best way to do it is to hire a Realtor. Choosing a good realtor is very important if you want your home buying process to perform well in accordance with your requirements. It is the utmost importance to work with an agent who represent your interest and can help you with his knowledge, experience and save you time and money.
Ask your friends if they know a good, experienced and trustworthy realtor. Check yourself online and when you hire someone interview them first and then decide if you want to hire them.
2. One of the most important things in the whole buying process is choosing a mortgage. However, an option is adjustable rate mortgages which seem to be the most convenient for buyers through their low rate over the long run.
3. The best term is 20 years. You will have a higher monthly payment but you can reduce the total interest paid.
4. At a first glance buying seems to be more advantageous than renting. It is true but not every time. If you buy you home to invest your money and the house prices are depreciating than your home can be an expense rather than an investment.
Don’t forget something else: the cost of insurances, taxes and repairs that can occur in time.
