- All the above, plus take a free homebuyers class, there's a lot you could learn from the class.
- lot's of people buy way more home than they can afford
- what you pay for your house and what you agreed to pay in the beginning will not stay that way.
- Taxes go up, home owner association fees goes up sometimes
- those two alone has cost people to lose their home.
- also electric bills and and home owners insurance.
- if you don't put down a large enough downpayment, you will pay mortgage insurance (PMI)
- if you're buying from a builder, a real estate agent is not required but it does not hurt since they get paid from the seller.
- get the house inspected
- do a final walkthrough before closing (same day)
- buying a home without a HOA has its benefits and its pitfalls
- benefits: no fees and rules
- pitfall: due to no rules, neighbors can do what they like and as a result, may bring your property value down.
- think abandoned cars, grass not cut (curb appeal) broken down cars in the driveway, running a repair shop out of the garage, etc
- when you get pre-approved, they look at your credit, you have 20 days from the time the first lender does a credit inquiry to get as much loan inquiries you can, after the 20 days, any inquires will hit your score again.
- you can get good deals from financing with the builder, sometime better rates as well
- they will sell your account though, usually after 6 months to a year, sometimes longer, but they will sell it.
Fam
I'm in the market to buy a house. Should I go with a realtor or work with the lender? I'm looking to buy a new unit in a nice development. What are the pros & cons of house buying using a realtor vs handling the sale between myself and the seller?