5 Things To Consider Before Buying A Home

1) Know your credit.

Before you start your home search, it is a good idea to order your credit report and review it for accuracies. If you decide to pay off some items on your credit, it’s smart to pay off the smallest balances first.

2) Know how much home you can afford.

Especially on your first home, don’t try to overdue it and buy the biggest or fanciest home. Make sure that your monthly mortgage payment is affordable given your monthly income.

3) Do your research.

Research various loan programs, your local real estate market, home basics, and mortgage lenders. Make sure you understand these concepts.

4) Get pre-approved.

Once you’re ready to buy and are knowledgeable enough to make a good buying decision, shop around for the best loan that fits your particular needs. Don’t just consider the quoted interest rate; also consider closing costs and the terms.

5) Be smart in your house hunt.

Don’t get carried away by the asthetics of the home, especially if you’re a first-time homebuyer. However, look at other factors that may affect your property’s value and future selling attractiveness. Also pay attention to a good, growing neighborhood, school districts, local tax rates, and flood zones.

Benefits of Home Ownership

Of course, it’s clear that the benefits of buying a home far outweighs renting. If you still aren’t convinced that buying a home is one of the best decisions you can make towards your financial future, here are some reasons to home ownership.

1) Pride. It feels good to know that you own your home.

2) Renting wastes your money; owning makes money and helps to minimize your taxes. Consider this, when you rent, you help pay someone else’s mortgage.

3) You can realize tax benefits when you own a home and can claim the mortgage and interest payments on your taxes.

4) The appreciation and equity in your home can be a profit for you when it’s time to sell.

5) Owning a home makes you attractive for equity loans that is borrowed against the equity in your home and can be used for a variety of reasons.

6) Homeownership helps to foster better neighborhoods because homeowners are more likely to be concerned for their neighborhood’s vitality since it directly affects their property’s value.

7) Homeownership helps to build your financial credibility.

Have You Wondered What a Home Inspector Does?

Have you ever wondered what a home inspector does? Most people probably rarely think of home inspectors. In fact most people probably do not think of a home inspector until it is too late. This is particularly true when it comes to buying a new home or if you are a first time home buyer. I recently had a chat with a local mortgage broker who has closed over 3000 loans. When asked how many of his clients had opted for a home inspection the number was shockingly low.

Autos are required, at least in the Metropolitan Atlanta area in North Georgia, to be inspected regularly. And now days most people will buy a pre-certified auto or at least have a mechanic check out the car that they are thinking about purchasing. Can you believe it is more important to have a car inspected annually or have it checked out than it is to have a home inspection performed before selling or buying a home?

A home inspection by a certified home inspector is not nearly as expensive as you think but the cost of not having a house inspected could be significant. There are many homes in the Canton and Woodstock areas which were built over 20 years ago which have never been inspected other than by the local government inspectors. A certified professional Georgia home inspector works on behalf of the buyer, when buying a new home, which is different than other types of home inspections.

A certified home inspector will check out all areas of your home, including the roof and basement or crawlspace and everything in between.

As an Atlanta home inspector, I encourage you to be there for the entire inspection and if that is not possible because of time constraints, then the last half hour so that I can personally go over any issues and answer any questions that you may have.

There is an old rule in real estate investing which says “The eyes have it.” What that means is to get professional eyes on the home you intend to purchase so they will see things your eyes may miss in the flurry of activity. Contact a Georgia home inspector today for more information. It will give you peace of mind in the long run.

How To Procure A First Class Atlanta Home Mortgage

For many a person getting the best Atlanta home mortgage can be the the origin of a real problem but the fact of the matter is organizing an outstanding Atlanta Home Mortgage is not remotely as large a difficulty as can be suggested once you get over your initial reaction.

When you have to organize a first class Atlanta home mortgage, engage in a little fact-finding for yourself because the Internet can prove to be an excellent stream of very educational data when you need to get an excellent Atlanta home mortgage.

You need to understand that with the right care and treatment, getting the very best possible Atlanta home mortgage is not a big headache.

Once the need has arisen to buy a home and get a mortgage, it’s very important that you fully grasp all of the terms and conditions attached to the different types of mortgage.

It’s absolutely central to your long-term financial well-being that you understand the process properly because no matter which mortgage you pick it’s going to be with you for a significant period of time.

A point of vital importance that is worth retaining in your thinking is that all the underlying principles of what constitutes a good deal in terms of a mortgage will keep to a fairly perpetual pattern. Because of this problem, you’re really going to want to be a little apprehensive about relying too much on the short term and fluctuating elements.

When the time comes to look into what’s out there in this specific section of the financial services industry, it is vital that you factor in that quite a lot of the information that you come across are more than likely to have originally emanated from a commercial source and with this as an element in the equation, straightaway, you can see why it is so crucial to cross check your data across several different web sites. By cross-checking in this fashion from several different places you give yourself a great opportunity of having dependable information that will assist you when it is necessary to decide on what the next step should be.

Once the time has arrived to research this area in detail, like anything that comes from a financial services business, it will probably be the case that the jargon that is in routine use by service providers can be very challenging to get a grasp of but it’s extremely important to work at it because it is absolutely crucial that you are in possession of a good basic awareness because ultimately this will allow you to have a huge advantage when the need arises to negotiate with any individual financial service provider.

A fairly obvious point that you really should keep in mind is what lies behind the highlighted interest rate. Over the longer term that interest-rate will become significantly less crucial that it appears to be at this point in time and it is quite central to your long-term financial health and well-being that you have entered into a deal that has fair terms and conditions. Ultimately, the terms and conditions are the thing that you really ought to be homing in on.

Once the time has arrived to get a mortgage, the Internet is a great source of information in terms of doing some research and all this researched information will really stand you when the time comes around to actually do a deal with any of the available providers. There are a number of reasons why doing background research is a good idea but basically, once your foundation work is good then you leave yourself in the best possible position once the time has arrived to decide on which deal will be best for you.

The companies who provide personal-finance have increasingly become more dogged in the area of peddling the notion that there is no scope for negotiation in the deals they have on offer. This is simply not a fair representation and a significant percentage of consumers could be able to keep more of our own money if they just made use of the scope for negotiation that resides in the majority of these deals. Many consumers find the finance product marketing information to be the cause of confusion and considering the nature of the lingo that is used under these conditions, I completely recognize how this can be likely but it’s very important to fully exploit that room for negotiating to keep more of our own money.