The Smart Home Buyer's Checklist

Buying a home for the first time is more than just a smart financial move or even a lifestyle upgrade; it's a choice to exercise greater control over your life as a whole. The process itself requires a degree of personal responsibility not found in normal life, even for large purchases like a new car or mutual fund. To smooth the process as much as possible, here are a few essential rules of thumb to keep in mind along the way.

Get Organized: No, you don't have to go on a massive cleaning binge to get a new home, although that might happen after all when you move into it. The first and most important step in buying a home is to get your finances organized. In order to determine what type of home you want there are a few basic things that you need such as at least two to five years of employment history, two to six months bank statements, bank and stock account balances, and credit score, although your mortgage broker should be the one to look this up. There are two main reasons to compile all of this data, first because most reputable lenders are going to require it, second and more importantly, because by understanding where you are right now financially you will be able to see how buying a house will impact your finances.

Perhaps you will gain equity with a smart purchase and ideally you should be able to get a good house for less money per month than your current apartment, if not you may want to spend a few months improving your credit first. If organizing all these statements seems like too much work there are plenty of financial advisers and even some mortgage brokers who can help, the important thing is to put yourself in the position to make the most intelligent decision.

Get the Right Mortgage: Now that you know where you stand financially, and hopefully have a few clear goals set, the next step is to determine what kind of mortgage will work for you. Unlike rental agreements mortgages are not simple one-size-fits-all transactions, having the wrong mortgage could mean the first home you buy is the last home you ever buy. The important things to consider when choosing a mortgage are your monthly payment, how soon you plan on moving, and any improvements or repairs you plan on making to the house. There is absolutely nothing wrong with getting an adjustable rate mortgage if you could be making the maximum payment right now, even if you are planning to move soon it's better to be safe than sorry.

For the home buyer who is planning on a move in the near future a possible option could be an interest only mortgage, again know what you are getting into. For the Home buyer who is not moving it may be wise to maximize equity build up with a low interest 15 year mortgage. Whichever mortgage you choose make sure you can not only afford the payments, but also have a few months income in savings. If something did happen reserve accounts can buy the time needed to make any adjustments.

Get the Right Agent: The right agent is the one who has your best interest in mind, not the size of their commission. That much is probably obvious, what isn't as well known is how to find a good agent. To get a good Real Estate agent you need to know a little about how Real Estate Agencies work, to put it simply the best listings go to the best agents. A good Real Estate agent knows that you will probably buy more than one house in your life, and they know that you have friends and family who might be referrals for them, if they do a good job. Owning a home is a powerful financial statement, regardless of age or background, but it is also a significant responsibility. That responsibility is ongoing too, even in brand new homes things may break, rather than having to scramble through the phone book while the bathroom is flooding, look for a good home warranty and save yourself a lot of time, money, and stress, your Real Estate agent should be able to recommend one. It takes a lot of smart, organized individuals to complete the purchase of a new home, and the buyer should be definitely be one of them.

Based on an article by Simeon Pennisi

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Discovering the Pros of Condos

When a person is trying to decide if they should move into a building, they may want to think about the advantages to condominium living. The pros of condos may surpass the advantages to living in a house type building. There are many added bonuses to consider when choosing a building over a home dwelling. A home buyer will need to think about what is best for their situation and family as they decide.

Living in a building will involve the payment of monthly fees. These fees take care of everything the building needs to function on a regular basis. It helps to pay for the interior and exterior cleaning of the building. Landscaping charges are included as well as any repairs that need to be done. Snow removal and ice melting supplies are all included in the building fee.

Living in a building is also great for anyone with a mobility issue. An elevator can take guests up and down with ease to their car and to their unit. There is no need to take stairs or have to climb them, with everything located on one floor.

A balcony can give homeowners access to a patio and some fresh air. Many people will place a small table and chairs out there to enjoy a great day. Flowers can be potted on a balcony as well as some gardening decorations.

There is no need to worry about taking care of the outside of a unit. A small monthly fee takes care of everything that is needed for the running and operating of the building. Taking the stress out of the extra upkeep of a home can be helpful to anyone who does own a home. There are many worries to owning a house that can be erased in a condo style living arrangement. The upkeep of the exterior of the house as well as the care of the lawn does not have to be thought about, with the exclusive condo living.

Each floor will contain a garbage room, where garbage bags are placed in a chute. The chute takes them down to the main garbage room on the main floor. The idea of disposing of waste in such an easy manner, allows residence the comfort of not having to worry about putting garbage out on a special day.

Not having stairs in a unit is not only great for people who use wheelchairs, but also for anyone who has trouble walking or has knee issues. They are also great for kids, so that parents do not have to worry about using baby gates or children falling down stairs.

The pros of condominiums, may include a variety of things. If a homeowner wants to take some of the stress out of home ownership, they may want to consider moving into a building. Many condominiums will feature workout gyms and pools to use and take advantage of. The added features will give someone a great reason why they should be exercising. People do not need to spend money on gym memberships when they have access to one in their own building. A pool is fun for adults and families who enjoy swimming and playing in the water.

Ways to find that perfect luxury apartment

Finding your dream apartment may take a little time and effort, but it is all part of the fun in exploring possible choices. While there are plenty of great apartments available for you to consider, you should definitely have a list of the features that you want in an apartment before you go looking. This is one good way that that you can begin to narrow down your list of choices rather quickly.

There are plenty of ways to find the apartment you have been looking for. Be sure to check out as many apartments as possible before you settle on just one. This way you know that the apartment you select is truly the best for you and your needs. Below are some different ways that you can find an apartment:

Local adverts: If you read the newspaper, you've surely come across the section that shows houses and apartments that are available for rent. This can be a good place to start your search for a luxury apartment. Though the newspapers may sometimes have a limited selection, you may get an idea of what type of apartment you can get for the money you are looking to spend. You can also take down the names of some of the apartment complexes you are interested in touring.

Online: Looking for an apartment online is another proven practice. The great thing about searching online is that you can pick and choose the criteria you are looking for in an apartment, and the website will narrow down your results for you. For instance, you could put in how much you're willing to pay each month for rent, or how many rooms you want the apartment to have. Online you often will also get to see pictures of the apartment's interior and exterior, which can help give you an instant visual of the apartment from the comfort of your own home, and save you time and effort in the process.

Drive around: If you ever have some spare time one day, just take a drive around your town to see what luxury apartments are available. Look for signs displaying apartment vacancies, and keep your eye open for any flyers and posters that may be posted around town. Plenty of luxury apartment complexes offer open house tours every day!

Remember when looking for your perfect apartment, the most important thing to remember is to take time to consider many different choices. Don't settle on an apartment until it is exactly what you want; take enough time to locate the apartment that offers everything you worked for and always dreamed of!

Written by Bruce Garland