First Time Home Buyers and Investors

When thinking about buying a home for yourself, first consider how much you are making in a ‎year and see if you can realistically purchase a home in your desired location on your current ‎salary.  If it is possible, then consider the various financing options available through a mortgage ‎bank. If you cannot pay 20%, see how far the mortgage bank or your realtor will work with you ‎to get as close as they can to paying 0% money down or using something else for collateral.  ‎People will be creative if they are seriously looking to sell. This especially holds true for ‎smaller, more inexpensive houses.‎

 If you cannot purchase a house just yet, but have enough for rent, consider a lease to own.  Even ‎though they are hard to find in the market, good realtors always know where to look. And with ‎so many search engines nowadays, the serious and motivated buyer will search the internet for ‎such a deal.  Currently, the U.S. housing market appears to be hitting rock bottom during first quarter of next year, so you still have another year to find a house while the housing prices continue to decline! ‎

Once you find your ideal house, get a good title company to do a background check on the title.  Try to also find one with a good in-house attorney that will help you review your real estate contract.  In addition, ‎make sure you get a good home inspector. A meticulous home inspector will find faults with the house that will require you to make repairs to the house eventually but will immediately reduce the overall cost of the house.  What's more, this is usually done AFTER you have negotiated the price with the owner.

Once you have gotten through the attorney review process and the inspection of the home, then your next step is to go to closing and purchase the house!  Good luck with your House Hunting!