Product Search


6 Things To Consider Before Buying Your First Apartment


Buying your first apartment may the largest investment that you have ever made, which makes it even more important to have a plan before you go looking for apartments. Just like any other investments, you should do your homework as to how much you are willing to invest and what you hope to gain in return.


1. Decide where you want to live? Which part of the city suits your lifestyle best? How far do you want to be from your work spot? Do you want to have shops nearby? If you like to have a walking community then put that in your wish list. If you want open spaces nearby, look for apartments near parks.
2. Decide how much you want to pay. Make sure to meet with a loan officer to be prequalified for a mortgage loan. He will enquire about your income and debts and tell you how much you can afford to spend. Then spend some time deciding as to how you want your life to look like after buying the apartment. Are you planning to have children in the near future or do you want money to travel? A lender can tell you how much you can afford to spend today, but he doesn't know what you purpose to do with your life in the future. If you plan on investing less on apartments than you can afford then you will have money left for other things.
3. Look for a real estate agent. An agent knows the market well and can use your "wish list" as a tool to narrow down as to where you want to look. He can also negotiate to get you the best possible deal on a property and can complete the paper work involved in buying a home. Always make sure to find an agent that can represent you as a buyer and not as a selling agent. Remember, it is the seller who pays's the buyer's agent, so you don't have to pay him while working with him.
4. Ask your agent to write an offer on your behalf after you have found a home for buying. He can help you find a fair opening bid and remind you of any extra amenities that you can ask to include. He will present your offer to the seller's agent or to the homeowner if he is not working with an agent and will keep you informed on how the negotiations are going on.
5. Find out how much it's actually going to cost to buy the apartment. First time buyers are often shocked to learn that their initial purchase is going to involve more than the down payment. Expect inspection cost, loan-origination fees, application fees, first month's homeowner's insurance, recording fees, appraisal and attorney's fees. All of these fees can add up to 3-8% of your final purchase price. Ask your real estate agent to prepare a good-faith estimate (GFE) for any property that you are planning to purchase so that you know how much the total cost is.
6. Finally you are going to find about the ongoing costs. Ask for copies of the previous homeowner's utility bills, repair bills, property tax, insurance bills and trash disposal bills. And don't forget to include these expenses in to your monthly budget.



Featured Products






Articles


Oregon Looks To Ipads To Help Disabled People Vote
Top 5 Courses To Learn Hibernate And Jpa In Best Of Lot
Flowers An Integral Part Of The Ecosystem
Jobs In Mumbai In Almost Every Field
Here S What We Need To Know About Tread
Armani Watches Fashionably Punctual
Educated As A Lawyer
Benefits Of Giving Corporate Gifts
How To Learn Playing Piano Efficiently
Make Identical Copy Of Xbox 360 Games
Considering Going Camping
Advice For Storing Your Motorcycle During The Winter Months
Know The Uniqueness Of Website Development India
13 Advanced Spring Framework Courses For Experienced Developers In Best Of Lot
New Nike Golf Approaching The Golf Market
Crown Capital Eco Management Indonesia News Giant Mammoth Carcass In Siberian Frost
Using Grout Mixer Pumps For Ground Remediation Jobs
McDermott Pool Cues - why so many Billiards Players Choose this Brand of Pool Cue
Sp Candidate Keeps Vigil On Strong Room Through Binoculars Hindustan Times
Get Familiar With The Causes Of Xbox Errors For Which You Need To Have Xbox Repair Number
The Critical Link Between Snoring And Sleep Apnea
What Is An Airfryer
The Solutions For a Slow Notebook Laptop
Finding Wedding Bands And Wedding Rings That Ideally Represent Your Love
Supra Shoes At A Big Discount For You
Obstacles To Address With The Use Of Classroom Computers
Preparing Yourself For Backpacking
Choosing The Right Airco Specialist Is Necessary To Ensure A Successful Ac Implementation
Computer Speakers
Affordable Retractable Pergola Sydney Designs Adjust To Residence Various Features
Baked Potato Recipes - Video
It Has Been A Growing Industry
Indian Native Tandoori Cooking Food
Cleansing Your Cooker The Proper Way Helps Keep Stains Away
How To Buy The Best Single Cup Coffee Maker
Why People Are Reposing Faith In Online Food Portals
The Xmas Appetite
Amazing Iphone Applications
Have Your Carpets Cleaned Professionally
Difference Between Mma And Boxing
Top Q0 Space Agencies In The World
Billiards Free Helpful Guideline For California Billiards
Are Bluetooth Devices A Health Hazard
Shopping Cart Design
Apply For a Working Australia Work Visa
What Tools Are Needed
How To Find The Best Deal Possible On A New Home
Help Make The Center School Fine Art Lover
Amazing Decor Ideas To Make Your Kitchen Look Drool Worthy
All The Most Popular Vintage Shoe Styles You Can Get Online Or Offline