It used to be the entertaining thing to do: spend a few hours on Saturday looking at model homes. Prospective buyers were lured into the net, purchasing a home like the one they had just viewed. When moving day arrived, the excitement pervaded the neighborhood. It usually took several weeks for reality to set in. The home was not just like the one that had been seen. Twenty-five thousand dollars worth of furniture, carpet, and draperies were not part of the deal. The costs that had not been mentioned were starting to appear. Disillusionment has set in. What can be done to avoid the buying blues? Here are some answers.
Online home buying tools successful because they are win-win tools for everyone. They give the prospective buyer, prospective seller, real estate agents and brokers, and insurance agents an opportunity to proceed on fairly stable ground. Most sites are secure; use your internet-savvy to avoid suspicious sites. I avoid sites where the leaders have misspelled words, broken English, and garbled sentences.
Loan Rate Comparisons
It is a fact. There are places that will give you a better rate than others. Since there are many contingencies that can affect the proposed rate, use the results from this online tool cautiously. Nothing is ever certain until the loan is actually made, and even then, changes can happen. Up to four loan rate comparisons are available from lendingtree here. There’s a form to complete; the most important part is being honest in your answers.
Get a rough estimate of your mortgage payment from PDX Home Loan here. Put in the numbers to achieve the results: purchase price, down payment, mortgage term (how many years to repay the loan), interest rate, property tax, property insurance, PMI factor, and first payment date.
Home Buying Checklist
Owing a home means maintenance and repairs. You can protect your investment by checking on common things that go wrong, such as plumbing and foundation, before you buy. E-LOAN Home Buyer Center offers an excellent checklist, with suggestions on what to look for, here.
Get an estimate in advance on the value of the home you are considering by going here, presented by E-LOAN. There are many considerations that will affect the estimate, but is one of the valuable tools for homebuyers.
The above online tools will put you on the right track for a home purchase. One final tip to make your purchase a dream rather than a nightmare is to mentally replace the accessories around the home with what you have. The lovely black leather couch by the fireplace might need re-imaged to the blue-and-white checkered La-Z-Boy sofa you’ve had for years, and won’t be replacing. It will clash with those lovely forest green walls. It is going to cost a small fortune for draperies on the windows, since you are not the bare window sun seeker the current owners are. That adorable little glass table and two chairs in the kitchen/dining area? It looks perfect, but you have the maple set for eight. Is there a place for it? Make a list of the items that are going with you, and confirm they will have a home.
Good luck on your search for the perfect home, and congratulations on using the valuable online tools for home buyers to make your search easier and more beneficial.
Lendingtree, Compare loan rates today
PDX home loans, Mortgage calculator
E-LOAN Home Buyer Center, home buying checklist
E-LOAN, Free Home Valuation