Notes

Tips for buying a home


After the economic crisis of four years there are already signs to appear that the housing market is stabilizing. Experts say now is the right moment to make an investment in property, but caution is in order.



Some analysts think that prices may continue to decline. The economist Yale University professor Robert Shiller famous for predicting the housing crisis, the sector isn't yet recovering.



The article was published in The Wall Street Journal , Shiller writes about the high volume of foreclosures as well as the high rate of unemployment as reasons that are preventing price recovery.



If you're thinking of buying a home, these 10 recommendations can assist you in making the right choice:



1. Do a financial self-assessment . Before you purchase something, you must assess your financial position . The most important thing is to calculate our income and the amount of capital we have available for in a downpayment . Although interest rates for loans are low at present however, getting a mortgage can be challenging. Banks are now more stringent in verifying your income as well as credit history.



2. Set realistic expectations. If you are buying your first house, it is vital to have realistic expectations regarding the increase in value . The typical value of a house in the United States is 3.6% per year, according to statistics taken from the Case-Shiller index, which is one of the primary indicators of the value of homes from the company Standard & Poor's. This means that it's no longer practical to buy and try to sell after some months or a year.



3. Think as an investor. Consider the anticipated return you can expect from your investment , risk as well as the length of time. The profitability if you buy to rent the property will be what you get from the rental earnings, less maintenance costs and taxes. Along with the annual appreciation for the building, that can be your profitability.



If you decide to purchase a property to reside in, one your primary goals is to make the best possible investment. The best method for doing this is to look for the areas that have the top schools as they tend to be popular for families .



4. If you are considering renting, consider continuing to pay rent. Check out the cost of buying and maintaining a property with the expense of renting it. Zillow.com just did this study of rent versus buy for nearly 200 metropolitan areas and more than 7,500 US cities. The study concludes that in 75% of the areas that were studied, buying is more beneficial than renting.


But, every buyer has to make their own research. It is possible to use this AARP calculator .



5. Location, Location, Location. A house is more valuable when it is located in an area that has high-quality schools along with good connectivity and transportation routes to the major cities.



6. Make yourself an expert. Learn about the region you've chosen and the homes you are interested in. It's essential to know how houses similar to what you're considering were recently sold for. You can get this information from websites. All you need is to enter the address in order to know which properties are for sale and rent, in addition to those that were recently sold.



7. Apply for pre-approval of credit. If you seek approval from a bank so that the buyer can know your credit score and the interest rate at which you would obtain a mortgage. "It's very important that you shop around for a lot of options from different banks to make a better decision," says Ilyce Glink, personal finance expert and the author of books on buying a home.



8. The house can also serve as an asset for retirement. Moving houses could yield benefits. "It is a growing strategy among people who are getting close to retirement age or have already retired. They will move into an apartment or house that is smaller and then use the equity as an income source," Says Armand Cristopher, owner of the Dallas-based real estate company Senior Living Realty, which specialises in seniors.



9. Note the enhancements. Calculate the cost of the additions required by the house. No property is perfect and even the most modern ones require changes and modifications. It is crucial that the changes are targeted at making the property more valuable.







10. You should think long-term. When you purchase a house, it is an investment for the long term . It is recommended to purchase with the goal of holding it for a period of five years or more. This will allow you to reap more benefits from having a property, whether you live there or if you bought it as an investment that you intend to rent.


Más información sobre comprar casa sitges en nuestro sitio web.
Website: https://casasypisositges.com/