For most people their home is their castle and one of the
most important things in their life. Your home reflects your
personality and is one of the most expensive acquisitions
that you will ever make. It is therefore imperative to choose
wisely the very best home for you.
Many aspects need to be considered, how much can you
reasonably afford, how much of a deposit is required, what
type of home is more suitable at this juncture of your life, are
you buying with an eye on a profit and investment or for a
expanding family etc?. There are also additional expenses
to consider on closing costs, moving fees, warranties,
insurance and more. So although it is not a decision to take
lightly it is certainly a great idea to investigate all aspects of
buying your own piece of real estate.
Debt to income ratio will be a large part of the equation. You
definitely do not want to buy anything outside of your
comfort zone. You need to know that you can financially
bear that monthly payment, be able to cover all of your usual
bills and expenses, have money set aside for the inevitable
rainy day and still have sufficient money to enjoy your
hobbies, vacations and savings.
Real estate at the moment is a great buy as unfortunately
many home owners are suffering in today's economic
climate. Too many people rushed into mortgages which were
above their means especially when they signed for a low
start payment or an adjustable rate when the climate was
favorable. They did not receive good advice.
When you go looking for your ideal home bear in mind a
classic rule of thumb and that is: It's better to buy the least
expensive home in the best neighbourhood that you can
afford rather than the most expensive home in not the best
of neighbourhoods. If you feel that an area that has been
less than favorable is transforming into a more desirable
area then check out local coffee shops over a period of a
few months if prices start to go up then you have probably
found somewhere in which a real bargain can be found. Visit
prospective homes that you have short listed several times
in the evenings and weekends. Neighbourhoods can take on
a totally different 'feel' when children are homeowners are
home. Suddenly tidy roads can be littered with bikes and
balls and too many cars.
Take time to check the best type of mortgage for you half a
point can make the world of difference on the life of your
loan. There's tried and tested old favorite lending and the
newer creative financing which can be wonderful if you are
not in a position to buy immediately however watch out for a
'balloon' after a set period of time (This is where
the home owner holds the 'mortgage note' but you agree to
complete and pay him the full agreed purchase price within
agreed parameters).
When you have made your final decision on your dream
home make sure that you double check all of the fees,
insurances and warranties and even if you are on a tight
budget an attorney is definitely recommended: a relatively
small expense compared to making a huge financial mistake.
Make sure that all taxes on the home are paid up to date,
that there are no liens against the property or overdue
homeowners or tradesmen fees, that it is not in a flood zone
and that a certificate is available ensuring that the home is
free from pests (termites etc).
These are but a few of the precautions, investigations and
research that you need to make. Finding a great Realtor
that is dependable, of a high caliber, will have your best
interests at heart and that you trust is a good step in the
right direction. Ask for personal recommendations from close
relatives and friends and do some research before making a
decision. See our page: Realtors
The above reflects personal thoughts and suggested
recommendations. We cannot stress how important it is to seek
professional advice on all aspects of buying and selling real estate.
most important things in their life. Your home reflects your
personality and is one of the most expensive acquisitions
that you will ever make. It is therefore imperative to choose
wisely the very best home for you.
Many aspects need to be considered, how much can you
reasonably afford, how much of a deposit is required, what
type of home is more suitable at this juncture of your life, are
you buying with an eye on a profit and investment or for a
expanding family etc?. There are also additional expenses
to consider on closing costs, moving fees, warranties,
insurance and more. So although it is not a decision to take
lightly it is certainly a great idea to investigate all aspects of
buying your own piece of real estate.
Debt to income ratio will be a large part of the equation. You
definitely do not want to buy anything outside of your
comfort zone. You need to know that you can financially
bear that monthly payment, be able to cover all of your usual
bills and expenses, have money set aside for the inevitable
rainy day and still have sufficient money to enjoy your
hobbies, vacations and savings.
Real estate at the moment is a great buy as unfortunately
many home owners are suffering in today's economic
climate. Too many people rushed into mortgages which were
above their means especially when they signed for a low
start payment or an adjustable rate when the climate was
favorable. They did not receive good advice.
When you go looking for your ideal home bear in mind a
classic rule of thumb and that is: It's better to buy the least
expensive home in the best neighbourhood that you can
afford rather than the most expensive home in not the best
of neighbourhoods. If you feel that an area that has been
less than favorable is transforming into a more desirable
area then check out local coffee shops over a period of a
few months if prices start to go up then you have probably
found somewhere in which a real bargain can be found. Visit
prospective homes that you have short listed several times
in the evenings and weekends. Neighbourhoods can take on
a totally different 'feel' when children are homeowners are
home. Suddenly tidy roads can be littered with bikes and
balls and too many cars.
Take time to check the best type of mortgage for you half a
point can make the world of difference on the life of your
loan. There's tried and tested old favorite lending and the
newer creative financing which can be wonderful if you are
not in a position to buy immediately however watch out for a
'balloon' after a set period of time (This is where
the home owner holds the 'mortgage note' but you agree to
complete and pay him the full agreed purchase price within
agreed parameters).
When you have made your final decision on your dream
home make sure that you double check all of the fees,
insurances and warranties and even if you are on a tight
budget an attorney is definitely recommended: a relatively
small expense compared to making a huge financial mistake.
Make sure that all taxes on the home are paid up to date,
that there are no liens against the property or overdue
homeowners or tradesmen fees, that it is not in a flood zone
and that a certificate is available ensuring that the home is
free from pests (termites etc).
These are but a few of the precautions, investigations and
research that you need to make. Finding a great Realtor
that is dependable, of a high caliber, will have your best
interests at heart and that you trust is a good step in the
right direction. Ask for personal recommendations from close
relatives and friends and do some research before making a
decision. See our page: Realtors
The above reflects personal thoughts and suggested
recommendations. We cannot stress how important it is to seek
professional advice on all aspects of buying and selling real estate.
| NAHB HIGHLIGHTS GREEN PRODUCTS, SERVICES AT THE INTERNATIONAL BUILDERS’ SHOW. http://www.buildersshow.com 2008 IBS Highlights Over 92,000 building industry professionals from around the globe convened at the Orange County Convention Center, February 13-16 in Orlando, Florida. The show kicked off with a Grand Opening Ceremonies extravaganza and Keynote Speakers, husband and wife political analysts James Carville and Mary Matalin. For the first time ever, NAHB held Green Day, celebrating all things Green in the building industry. Green Day began with a session by William McDonough on The Promise of Cradle to Cradle to Design: Sustainable Architecture for the 21st Century. In addition, green education was held through out the day and NAHB officially launched the NAHB National Green Building Program and the Certified Green Professional designation. Other show highlights include the Daily Featured Speaker sessions by Mark Jarvis, Chief Marketing Officer at Dell and Ken Schmidt, formally with Harley- Davidson Motor Company. Thursday’s Luncheon Impossible featured The Food Network Star of “Dinner Impossible” Chef, Robert Irvine. With over 1,900 exhibitors covering more than one million net square feet of exhibit space, attendees packed the aisles to see the latest in building products, services and technologies. The four days packed full of education, exhibits and special events made IBS 08 a huge success! Next year, the International Builders’ Show moves to Vegas! Plan to join us January 20-23. To receive 2009 show information as it becomes available, click here. Thanks to Orlando for four great years…see you in Vegas! Become a 2009 Exhibitor THE 2009 INTERNATIONAL BUILDERS' SHOW® /nextBUILD® January 20-23, 2009 Tuesday - Friday Las Vegas, Nevada All companies interested in exhibiting at the International Builders' Show® must complete and submit an Application for Exhibit Space. NOTE: A 50% deposit payment must be included with all Applications. For information on how exhibit space is assigned please read the Exhibit space assignment procedures. Steps to Reserve Exhibit Space: Please review the floor plan and select at least six possible booth choices. (Note: The online application requires that you enter six choices.) Review the Terms, Conditions, Rules and Regulations. Complete the online Application/Contract for Exhibit Space. Submit credit card payment using NAHB's secure online credit card payment system. OR mail completed application and check made payable to NAHB to: NAHB Lockbox 630846 225 N. Calvert Street, 18th Floor Baltimore, MD 21202 TEL: (202) 266-8109 Fax a signed copy of your completed Application to (202) 266-8223. Prices and Fees The price of indoor exhibit space is $39.50 per square foot. The price for all outdoor exhibit space is $24.00 per sq. ft. Each exhibitor is required to pay $200 for their participation in the 2009 Virtual Trade Show. Tell me more about the value of having a Virtual Booth. More information at: www.NAHB.org. |
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