Home Buying Advice

Save Money by Shopping for the Best Mortgage Rate

When shopping for a particular item, everyone is always on the lookout for the best deal, especially if it's an expensive purchase. This rule holds true for things like shoes, appliances, and cars, but many home buyers fail to shop around when it comes to the most expensive item of all: a mortgage. Freddie Mac recently analyzed just how much money buyers are losing out on over the course of their loan by failing to get multiple quotes, and the number wasn't cheap! In fact, they found that getting just one extra quote saves the average borrower over $1,400!

 

Don't Disregard a House Based on Cosmetic Faults

Are you searching for a new place to call home? It might sound obvious, but in considering listings you should always remember to focus on things that you can't change (at least not easily), such as the location, price, size, and serious repairs. While items like these correctly fall into the category of "potential deal breakers", it's also unfortunately common for buyers to get hung up on easily-fixable, cosmetic issues. You might think you're immune to this, but things like unpleasant colors or outdated fixtures can be hard to ignore since they are integral to your subconscious impression of the house. Luckily, as a reader of this blog, you know better than to dive into real estate unprepared! Here are some of the minor issues that are most difficult for buyers to overlook, along with a reality check about their actual importance.

Buyers Should Have an Easier Time in 2019

For the last several years, prospective home buyers in most areas of the country have had to face conditions that aren't exactly ideal. Rapid price growth, low housing inventory, and fierce competition among buyers have resulted in conditions that can only be described as a strong seller's market. However, if you have been holding out on buying a home, then there is some evidence that the winds could be shifting in your favor. Keep reading to learn why 2019 might offer some relief for home buyers.

Buying an Older Home? Be Aware of These Potential Issues

Are you considering buying an older home? Don't let the title dissuade you! Older homes often contain craftsmanship, architecture, and character that simply cannot be matched by a newer build. However, before you make your final decision, you should be particularly vigilant for certain issues that are more common among homes built many decades ago. Real estate news and information website RISMedia recently wrote about the specific items on which you should focus extra attention during the inspection process. Performing your due diligence before you sign off on the sale ensures that there are no (or at least not as many) costly surprises waiting for you after you move in!

Watch out for These Home Inspection Red Flags

Between the searching, financing, and moving, buying a home is stressful. Once you've found the perfect home, no one can blame you for wanting the process to be completed as quickly as possible. However, there's one very important thing standing in your way: the home inspection. You might be tempted to gloss over the report, but it can contain extremely valuable information about the home's potential for future expensive repairs. Keep reading to learn about a few of the most important items to pay attention to in the home inspection report.

What to Expect from a Smoker's Home

Smoking has become less and less popular over the decades, with the CDC reporting that the proportion of U.S. adults who smoke dropped from 20.9% in 2005 to 15.5% in 2016. Still, that number means that around 38 million potential home sellers are active smokers. Those who do smoke might be interested in learning just how much it reduces the value of their home, while everyone else is likely interested in knowing how to eliminate the smell of cigarettes from their new abode. Realtor.com recently wrote about this topic, offering some useful advice on how to deal with a smoker's home.