Buying a home for the first time is so exciting. Be sure you know these tips so that this experience is one you will WANT to remember.
1. Decide your needs from your wants. You may want a fenced in back yard, but can that be something you can add on later, where as you can’t change somethings like a homes location or number of bedrooms. Be realistic and decided what you have to have and what you want to have.
2. Know your budget, and STICK to it. There are many mortgage calculators to help you decide on what you can afford. Just because you are pre qualified for an amount, does not mean that you can afford that amount. You don’t want to be house poor where you can’t afford anything but your house payment and have no emergency fund. As a homeowner, new home or not, there will always be an emergency. Know your numbers. A lender will be happy to help you.
3. Hire a professional. You may think you can do this on your own, but seeking professional advice can save you money. A professional can show you what a good price for the home is, so that you don’t end up over paying for a home.
4. Don’t be fooled by the shiny pretty lights. Always get a professional home inspection, even on new construction. A home can be staged beautifully with pretty new things, but there could be major repairs that a novice wouldn’t know to look for.
5. Don’t hesitate when you find the “one’. If you have found the home that you feel and seems perfect, don’t wait to make an offer. Some buyers think the home will be on the market forever, but often the best homes go quickly no matter what the market is like. This is why it is important to have a professional from the beginning so they can help you act quickly when the perfect home is found.
Now that you have a few tips, good luck, and happy home shopping!
I know it seems like forever and a day that we’ve been talking about just how down the economy is and how there’s so much uncertainty about everything financial, but believe it or not, right now is a GREAT time to buy a house in the Fort Mill or Rock Hill SC area.
How can I say such crazy things?
Here are 5 reasons why I believe it’s such a great time to buy a Fort Mill or Rock Hill SC house:
- It’s a buyer’s market. I don’t think this one comes as any surprise, but today’s buyers have an opportunity to dictate a lot of the transactions. While you should still expect to pay a fair market value, given the state of the economy overall today’s fair market value is considerably lower than what it has been. As a result, there are some real gems available for those willing to do the work and find them.Or you could simply hire a savvy Fort Mill real estate agent to do all of the hard work for you.
- Interest rates are still at all-time lows. I personally don’t remember the days when interest rates where close to 20% so I can’t really speak from personal experience, but I do know that any time interest rates are around the 5% mark we’re dealing with some very inexpensive loans.All of the banks have definitely cracked down on just giving away loans so you’ll need to have good credit and the ability to pay, but that should really go without saying anyway.
- All of your competition is on vacation. With the summer in full swing a lot of your home buying competition is at the beach, in the mountains, or over the river and through the woods to visit dear old grandma. As a result, you’re less likely to face competition when bidding on that new home of your dreams.
- The Fort Mill and Rock Hill SC real estate markets are relatively strong. Unlike other areas of the country, the Charlotte metro area has remained relatively strong, in spite of the many job losses we’ve experienced.York County has done a great job of bringing in new companies and with some of the highest rated schools in the state of South Carolina, chances are we’ll continue to see an influx of people moving to the Fort Mill and Rock Hill area, either for jobs or simply to escape much of the chaos that is the Charlotte Mecklenburg school system.
- The school year is rapidly approaching. As summer moves towards the fall season, it means that school will soon be in session. Whether you’re hoping to get a child enrolled in one of SC’s highest rated school districts or the home seller is looking to be moved out before the school year starts, right now is definitely the time to take action.Remember, it takes 30-45 days to close on a typical residential real estate transaction, which means you’ll need to get moving soon in order to beat the school bus to the corner!
Finally, just keep in mind that any time there is uncertainly and ‘gloom and doom’ talk about the economy it means there are LOTS of great deals available for those willing to put in the time and effort required to uncover them. With a little bit of real estate knowledge and experience (or having someone on your side that has these), you can find that perfect new house that you’ll be able to enjoy for many years to come.
Filed under Buy Your Dream House, Carolina Real Estate, Home Buyers, Life In the Carolinas, Market Trends by 
If you are in the market to buy a home, you probably feel like you are king. You have been told over and over again that it is a buyer’s market and the “steal of a deal” you can get.
BEWARE! Many times it’s not always readily apparent why a particular house for sale is such a steal of a deal, and as a result you can be mislead into being a difficult buyer rather than a successful one.
Here are some qualities of a successful buyer to be sure you are on track to find the right house, at the right price, at the right time:
- Provide your real estate agent complete and accurate information, whether it be financial, motivations, or time-lines. The more information they have the more they can help you.
- Set aside consistent time to learn about and to stay abreast of the market inventory. Ask your real estate professional to send you homes currently on the market and keep track what price ranges are moving and what they might be selling at. Your real estate professional can help you with statistics as well.
- Be prepared to be competitive and disciplined.
- Give serious consideration to your real estate professional’s advice. There is probably good reason you hired this professional to work on your behalf so sure before you do hire a real estate agent, make sure they know their facts about the current market.
With these few basic qualities you’ll save yourself time and money, and will not be disappointed by unmet expectations.
Happy Buying!
Filed under Buy Your Dream House, Carolina Real Estate, Hiring An Agent, Home Buyers, Lessons Learned, Market Trends by
Here’s a great article about buying foreclosed home that you should read before you consider buying a Fort Mill SC foreclosed home:
Many people jump at the opportunity to buy foreclosures, but this is definitely a buyer beware market. There are, however, a lot of good reasons to buy a foreclosed home, you just must be prepared to put time and effort into fixing it. If you’re looking for a great deal on a home, or you are a first time home buyer, this is a great way to get your foot in the door and get into the house you’ve always wanted.
It is honestly amazing the deals that you can get by buying a foreclosure. There are so many foreclosed homes that may need little to no work, and simply were abandoned, and there are other foreclosures that will need so much work. You’ll be amazed at the deals you can get in purchasing a foreclosure.
If you are willing to put in the time and effort, you may be able to get a screaming deal. Once you find a foreclosure, have a home inspector go through it. When the inspector goes through it, they will be able to help figure out if there is anything major wrong with the house, or if you just need some renovations.
When purchasing a foreclosed home, unless you are ready for a project, you want to stay away with anything that has water damage, mold, or foundation damage. These projects are probably best left for a contractor, and may be better off left alone. It depends what the price of the house is, but you want to be sure that you don’t get yourself into a project that can cost you more than the house will ever be worth. Better to look at a foreclosed home that doesn’t need quite as much work. It’s easy to update kitchens, tear out carpet or paint and patch walls. That doesn’t cost too much, and is something that can be done relatively easy no matter if you do it yourself or you’re hiring a contractor. These projects can also be completed once you’ve moved into the home and don’t require you living someplace else while you fix up where you want to be living.
You also can make a lot of money by fixing up a foreclosed home, if you’re looking to flip houses, this is a great way to do it. You can get these homes for cheap, and even with labor and supplies you can still sell them to make a profit. This is a whole industry now, and something that even hobby carpenters can get into it and make a few extra bucks.
If you’re ready to buy a home, you may want to look at what a foreclosure has to offer. You can get great deals through these homes, and with a little hard labor, work, and dedication you can have a great home for a very low price. Of course, these are always a buyer beware purchase, but with the right research, the right people, and the right price, you can get yourself a deal.
Louise Scoggins is a leading Realtor in the Cherokee County Homes market. For more information on Cherokee County Real Estate, please visit ThinkLouise.com
Article Source: http://EzineArticles.com/?expert=Louise_Scoggins
Filed under Carolina Real Estate, Foreclosed Houses, Fort Mill SC, Home Buyers, Real Estate Investing by
With so many incentives to buy a home, now is by no doubt, the time to buy. With lenders tightening their guidelines, you might want to be sure you have your finances in check.
With brand new federal regulations, this will help you understand how it will benefit you and tame your credit card debt. The bad news, is because of this government intervention you might have already seen a rise in your interest rates. This is from Red Book Magazine
1. They can’t raise interest rates on debt you’ve already racked up. They can if you are more than 60 days late on these payments. So pay your cards on time!
2. If your card charges you different interest rates (say, 14% for existing balances, and 2% for balance transfers), they must apply your payments to the debt carrying the highest rates first. So the faster you pay it off, the more money you save.
3. They can’t raise your rates if they find out you’ve been late on other credit cards or loans. This doesn’t mean you credit score will not be affected, which can eventually lead to higher interest rates. Your best bet is just to pay it on time.
4. You can no longer go over your credit limit and be charged the subsequent fees- unless you notify your credit card company in writing that you’d like to spend more than your limit. So don’t spend more than your limit.
5. They will tell you on your bill how long it will take to pay off your debt and how much it will cost you, including interest, if you pay only the minimum each month. This will be an eye opener, and a hard lesson for many. Pay more than the minimum or you could possible pay on this card longer than your house mortgage.
6. Those under 21years old won’t be able to get a credit card unless they show proof of income or get an adult to cosign. I think this is the smartest law of all! When I was in college, you would sign your life away for a free t-shirt or can coozie. All adults over the age of 21 take note…DON’T COSIGN
