Tips on Real Estate for Buyers

My husband and I have been looking for that perfect home now for a little over 1.5 years and we have not yet found it. The real estate market is going up higher and higher everyday and the economy is going down. What are we thinking when we want to go look at something that is 150k plus or even down from that price to a smaller price of around 35k.

Are we going to jump into the first house we look at because it is pleasing to the eye, or because it will just do? I certainly hope not! Hopefully we will continue to look no matter how long it takes to find that one perfect home. I refuse to buy something just because it looks like it would be a great place to live.

Rule number 1 about finding that perfect home: Look, look, look, and research. You see a house you like and think hey, I really like this house and would like it to be our home. The furniture inside (if there is furniture) is just awesome and the layout is wonderful. The yard is immaculate and just wonderful for the children. Is it fenced in? Maybe they have a pool in the back yard and you say hey, my dream home.

Then you want to find out a little bit more about the house and you think to yourself, just for a minute. Then you ask the realtor about the school and the neighborhood. The realtor states that it is the perfect neighborhood and yes the school system is just lovely. Ok, this makes you like the house that much more and you are just going to have to have this house.

So you move into this house and within the first week you realize that you have problems with the plumbing, then the roof that looked so great and awesome on the outside, ACTUALLY LEAKS! Soooo you have to get these things fixed before you can continue to live in this house and enjoy it. But, what is the worst thing you could possibly think of that would happen next? The neighborhood that was soooooo quiet in the day becomes a nightmare at night. Loud music, kids up and down the street yelling profanities, and just being a nuisance. The cops are called every other day it seems and you just cannot imagine how much longer you can continue to live here and be somewhat happy.

You have bought a house you wish that you hadn't. How could we possibly avoid all of this without going through it again, or even now for the first time?

Well for starters you see the house you like and before you jump to conclusions about how it is going to be, or before you believe the realtor (who only is trying to sell a house in the first place) you investigate. You could drive by on the weekend, and make sure you do this at all hours to physically see the neighborhood and the goings on there, and you can even go to the school to check out the behavioral and educational standards they bring to the children. Then you can ask to view the house again while raining or etc., to see what it is like in certain weather conditions. You may not see a leak right away but, at least you looked. Check records to see when the roof was put on or ask the owner of any problems from the past with the house. This will at least help to comfort you a little.

Now here is a big clue....

When you are looking for real estate, Definitely look at your repos and your foreclosures. Not to look at anyone's misfortunes, but because we all know that with a repossession or foreclosure the bank will spend more money to let it sit in the market place as to sell it and get rid of it. Sure they need a bit of work to some not all, but I have personally seen houses that were starting at 110k drop and sell for 30k. Not all are like this but come on if you see a house you absolutely love then what is the problem fixing it up for another 20k and then owning your dream home for little of nothing. Deal with it, it is yours. Now not only do you have a home that you fell in love with you also have a home that you can live in and fix or add things to make it how you like it.. I think this idea is great. I have been trying to convince my husband of this but, he is a bit skeptical.

If you are trying to buy a home and you own a home already, due to the economy you should keep your current home and consider renting it out to help with your monthly payments. Not only does this help you it also helps the renters who are actually good people and need a place to call home as well. If all else fails with the economy the way it is right now, you always have a place to go home to. That is security.