Here’s our one-stop shop for everything you need to know about acquiring a home you’ll love. Browse our articles for valuable information on buying an existing home, finding new construction, or building your dream house.
You’ve found a house you love, made an offer and have a signed contract in hand. Now the clock is ticking. Many states’ sales contracts give a limited period of time to get the house inspected. During this so-called “due diligence period,” is when you want to inspect the house and request anything you want… Read more »
When searching out home-financing opportunities, it’s worthwhile to see if you qualify for government programs that offer attractive terms. The loans are usually administered through a private mortgage lender, but are insured by the federal government against loss due to borrower default. Here’s a quick primer on the possibilities. Federal Housing Administration (FHA) loans. Approved… Read more »
When you buy a home you may expect that you have complete freedom to do what you want with the property, that’s likely not the case. You will probably discover an encumbrance, or limitation, legally imposed upon you regarding its use. In other words, an encumbrance is any claim or interest held by someone other… Read more »
If you enjoy an annual trek to the mountains or beach, and enjoy the simplicity of staying at the same place, a timeshare purchase might be a good option for you. If you like a little more variety in your vacation, but hate the hassle of trip planning, a vacation club membership might fit your… Read more »
An accurate survey is a crucial step in your home-buying process, making sure you don’t encroach on a neighbor’s property — or vice versa. A mistake in the survey can cause legal problems later. Here’s what you need to know now to avoid problems later. Location, shape and size. A survey will show a sketch… Read more »
Homebuyers must make two large payments when purchasing a house. One is the earnest money paid upon execution of the sales contract. The second is the down payment to the lender at closing. What are the differences between the two? It’s all about commitment. In both cases, these payments represent a commitment to the purchase…. Read more »
How much is a home worth? That’s the crucial question asked by home buyers and their lenders in a sales transaction. It’s up to a professional real estate appraiser to analyze the property and market data to come up with the market value, which can dramatically change the outcome of a deal. What exactly does an… Read more »
One of the major infrastructure components of your house is the floor, which encompasses much more than just the carpet, tile or hardwood upon which you tread. Those are just cosmetics. Let’s take a look at what’s really beneath your feet. The concrete slab. Concrete slabs are prevalent in parts of the country where temperatures… Read more »
If you want to own your own home, but the thought of mowing the lawn and cleaning the gutters is a turnoff, you might be in the market to buy a condo, townhome or co-op. Here’s a quick comparison. What’s the appeal? Perhaps the biggest appeal to a condominium, townhome or co-op is the freedom… Read more »
When shopping for a new home, one of the options you may encounter is a builder’s spec home. Builders construct “spec” homes, short for speculative, hoping to interest a buyer who needs a home as soon as possible. Typically, all that is left to be done in a spec home are the finishing touches, such… Read more »
When building a new home, don’t forget to put serious thought into how the house will be positioned on the lot or acreage. It might seem like a technical detail but the position of the house can have a big affect on day-to-day living. Let’s look at the crucial elements that go into the decision…. Read more »
The foundation of your home is arguably its most important structural component, since every part of the home depends on it remaining firm and level. Different foundations are available and each is made for certain types of soil and other environmental conditions. Let’s look at the four categories of foundations along with the pros and… Read more »
If it’s time to put your individual stamp on your next house or home renovation, let’s look at the best places to go for inspiration. Some of them require a little leg work while others can be check out from the comfort of your couch. A custom builder. Get in touch with quality custom builders… Read more »
When planning to build a custom home, buyers have their choice of two types of construction loans. The traditional type involves two closings, one for the construction phase and one for the permanent mortgage. The newer, more popular version is the so-called one-time close, also called a construction-to-permanent loan. Here’s how they differ. Getting started…. Read more »
When you are thinking about building a new house you may face a dilemma: Should I build the biggest home in the subdivision? Or, what about the smallest? Once you’ve decided how much space you need and can afford, if the house you are considering would be the smallest or the largest in a neighborhood,… Read more »
When purchasing a new home from a builder, prospective buyers need to know that contract negotiations are a bit different from the typical resale process. First, and foremost, the on-site real estate agent works exclusively for the builder, meaning buyers need their own agent who puts their interests first, particularly through the sales contract negotiation… Read more »
After months of watching your new home being built, it’s time for the “walk through” with your builder. This is your opportunity to make sure things are fixed before closing. Here’s a walk through of the walk-through process. Bring blue tape and a keen eye. If your builder is amenable, do an initial check of… Read more »
Touring model homes is a great way to help you decide on a house purchase — as long as you don’t get swept away by all the pricey upgrades and the professional decorating. Here are a few tips to help keep you focused on the basics rather than the bells and whistles. Marketing magic. Remind… Read more »
Touring model homes is one of the best ways to get a feel for whether a floor plan will work for you. It’s time well spent before committing to such a huge investment in your future. Take your time and consider the following: Think now and later. Begin by thinking about what you currently need… Read more »
Buying a brand new home has a strong appeal — everything is crisp and new and under warranty. But what about the timing of that new purchase? Is it wise to be among the first homeowners in a new subdivision or should you hold back and wait to buy one of the last houses available… Read more »
