Yahoo Finance Article (Review): Own Your Own Home
This article is not me giving tips and advices like I used to, but rather, a review of a great article I found. It’s a piece from Yahoo finance called “Buying Your First Home”. Having a house used to be the pinnacle of American dream, and it still is one of the foundations of it even though times have changed.
The American Dream: Own a House: Tampa Property Management
A new house to call your own gives you a feeling of security and self-satisfaction, that the property is yours and no one can take it away from you. However, buying a house does not exactly have the easiest process. You’ll have to painstakingly take effort to make sure the property you’re buying suits you and your lifestyle. Property management of your own home in Tampa is just about everyone's goal.
Most buyers get a list of the price range and some desirable neighborhoods, and assume that the job stops there. It doesn’t. Buying a new house needs more scrutiny than just a paper or two. A house is not a cheap asset you can buy anytime. It could be your biggest, most expensive asset so give it due attention and effort it deserves. I love this line so I’m going to say it again, better safe than sorry.
“Buying Your First Home” will guide you on what factors should you consider in buying a property, as well as what questions to ask yourself as part of the assessment of whether the property actually suits you as a person or not. It also tackles mortgage and affordability issues based on your actual salary or combined with your partner if you have one (with a bit of formula). Speaking of affordability, you have to actually sit down and talk to your lender about it in order to get a good grasp of how much you can spend. A good grasp of the cash down payment and closing costs will also be tackled. Key point on this topic is that the amount of down payment gauges the amount of interest rate and monthly mortgage payment you will be obliged to pay. Higher down payment means lower interest and mortgage.
Moreover, it point out other costs of homeownership, as well as the ongoing ones. You have to consider the location of the house and its facilities: school, taxes, services, crime rates, transportation and zoning. If you have kids, most certainly you’d want to live in a place that has good schools and less crime rates (regardless of your status, you will always want a place with less crime rates anyway). You can also seek the advice of a broker. Though they are normally sellers or on the side of sellers, they give you key information on properties around you area. They know real-estate all too well.
No matter how sure you are of a property at a particular instance, you should still consider the resale value of the house. Your mind could change in the long run, or you might be induced to transfer to another area because of promotion, reassignment, and several other compelling factors. You have to consider this no matter how unlikely it is in Tampa property management.
Visit http://realestate.yahoo.com/info/guides/buying-your-firsthome;_ylt=Amd7QG9t3DbVYbznDaKHWNzW4JF4 to read the article in detail.