BUYING A HOME

When you decide to buy a home, you set in motion a large assortment of questions about the purchase. For instance, you may ask questions such as these:

• What are the responsibilities of the real estate broker?
• How will you be able to distinguish between a broker who is representing your interests and a broker who is simply attempting to earn a commission?
• Should you seek an independent appraisal of the property before you make an offer to buy it?
• Should you engage an engineering consultant to evaluate the condition of the home?

SELLING YOUR HOME

If you decide to sell your home, another large assortment of questions will be set in motion. For instance, you may ask questions such as these:

• Is the commission rate that real estate brokers charge always fixed, or can it be negotiated?
• Should you attempt to sell your house by yourself?
• What price can you seek for your house and, just as important, what price can you expect a buyer to pay?
• Should you seek an independent appraisal to help you set a sales price?
• Should you incur the expense of putting a fresh coat of paint on your house before you list it for sale?
• Should you agree to accept a personal promissory note for all or a portion of the sales price from a prospective buyer?

OVERLOOKED EXPENSES

When first-time homeowners calculate the amount that they can afford to pay for a home, they often focus all of their attention on the monthly mortgage payments, the property taxes and the homeowner’s insurance premiums that are required by the mortgage lenders. They should also learn about the other costs of owning a home. These expenses can add-up to a surprising amount. For instance:

• The tools, equipment and supplies that you’ll need to maintain your home are often quite expensive!
• How much can you expect to pay for utilities that heat the home in the winter months and cool it in the summer months?
• Does the property have a high maintenance yard and garden? A beautiful yard and garden may be very expensive to maintain.
• Are you a competent handyman or handywoman?
• After you consider the amount of time that you spend preparing yourself each day for work, commuting to and from your job and performing your job, will you have enough remaining time to make repairs to your home and maintain your yard and garden?

OVERLOOKED EXPENSES

When first-time homeowners calculate the amount that they can afford to pay for a home, they often focus all of their attention on the monthly mortgage payments, the property taxes and the homeowner’s insurance premiums that are required by the mortgage lenders. They should also learn about the other costs of owning a home. These expenses can add-up to a surprising amount. For instance:

• The tools, equipment and supplies that you’ll need to maintain your home are often quite expensive!
• How much can you expect to pay for utilities that heat the home in the winter months and cool it in the summer months?
• Does the property have a high maintenance yard and garden? A beautiful yard and garden may be very expensive to maintain.
• Are you a competent handyman or handywoman?
• After you consider the amount of time that you spend preparing yourself each day for work, commuting to and from your job and performing your job, will you have enough remaining time to make repairs to your home and maintain your yard and garden?