CNN Money recently published its Top 10 Home Buyer Checklist.
Since we found the list quite helpful and relevant, we wanted to share it with you.
Investing in New Albany Real Estate
Here are some of the facts that CNN Money said every home buyer should know before investing in a New Albany home:
- Plan to Stay in Your New Home for at least a Couple of Years.Â Given the cost of buying and selling a home, it may not be cost effective to own New Albany real estate if you just plan on leaving after a year or so.Â Thus, plan on living there for at least a few years to get the most out of your investment.
- Make Sure Your Credit is in Good Standing.Â Unless youâ€™re independently wealthy, youâ€™ll likely have to take out a mortgage to buy your next home.Â You want your credit to be good to ensure you get the best rates possible.Â Consider requesting a copy of your credit report a few months before you enter the housing market to make sure all the information is accurate.
- Start Looking in the Right Price Range from the Get Go.Â By being realistic about the price range you can afford early on, youâ€™ll ultimately save yourself a lot of time and heartache.Â One general rule of home buying is to only look at homes that are 2.5 times your annual salary or less.
- Even if you canâ€™t put 20 percent down, you may still qualify for a loan.Â Many public and private lenders out there will offer low-interest mortgages for down payments as small as 3 percent.
- Consider Which Schools Your Neighborhood is Zoned For.Â Even if you donâ€™t have children, itâ€™s important to pay attention to the schools for which your home is zoned.Â Thatâ€™s because this will help determine how easy it is for you to resale your home down the road.Â In addition, quality schools in the area help to increase home values.Â Check out which New Albany School informationÂ by checking out our New Albany School Report Card.
Your New Albany REALTORS
Join us next time as we reveal the second half of CNN Moneyâ€™s Top 10 List of Things Every Home Buyer Should Know.
As your New Albany REALTORS, we’ll be happy to answer any questions you may have as well as offer you our expert real estate advice.
Ready to start searching for your dream New Albany home today? Check out some of our user-friendly search options:
- Search New Albany homes under $200,000
- Search homes between $200,000 and $400,000
- Search homes between $400,000 and $600,000
- Search homes between $600,000 and $800,000
- And more!
Until next time,
Kate & Tony Thomas