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Top 4 Real Estate Purchase Tips for First-Time Buyers

realestateforsaleinazDec 11, 2018, 12:08:42 PM

For first time home buyers, buying real estate is a massive life decision, not only because of the money involved, but also because it will be the place you call home for a better part of your life.

While many top online websites such as Russ Lyon Sotheby’s International Realty can help find the perfect homes, there are a few personal tips that one should keep in mind before buying real estate:

The Perfect Time to Buy: Many buyers wait for the real estate market prices to drop before deciding on a purchase. This is not recommended as real estate is an unpredictable market especially with the interest rates being on the rise. The right time to buy a home is when one has the money, finds the perfect home and negotiates a great deal. Delaying the purchase while waiting for the prices to drop may lead to missing out on the deal entirely.

Avoid Hidden Costs: Websites like Russ Lyon Sotheby’s International Realty can help you find the right home at the right price and can even offer appointments with real estate agents at no cost to the buyer. But it is up to the buyer to keep their eyes open and make sure there are no hidden costs involved when buying a house. It is important to read the terms and conditions of the house documents before signing over the dotted line.

Smart Buying Decisions: The bigger house is not always the best house. Sometimes, houses half the size sell for double the price. While it might look like a sweet deal, buyers should inspect the house very closely before making any buying decisions. Many first time home buyers ended up buying big houses for a lot less money, only to realize that there is much rebuilding work to be done, which basically brings the total cost of the house close to its true value. Whatever the buying decision is, it should be a smart one.

Neighborhood Inspection: Last but not the least, buyers should always inspect the neighborhood in which the property is located before buying it. They should make sure that the neighborhood is safe and protected, and all amenities are available close by. Buyers can also visit the neighborhood in the evenings to be sure they are comfortable with the location.