Buying Moses Lake Real Estate?
Whether you are a first time buyer or experienced buyer wondering if you could cash in on the flood of foreclosed homes on the market, the first step you will need to take is to consider your options.
Here are some tips to keep in mind when heading out to buy Moses Lake real estate.
- how much can I afford to put down now as a deposit to hold the property and as a down payment later?
- how much can I afford to pay each month, including any house taxes?
- how much will I need to pay for the legal fees, land titles, moving, etc? (for more information on how much you can afford to pay, check out my Sedona real estate partner and their article on how much you can afford in a home)
Each of these three things may be moderated by something else. Interest rates are a factor; they dictate the amount of money you will be shelling out each month. The interest rates form a major part of the reason why you should buy now.
They are very low at the moment, although experts suspect that they will be 'pushed' up as the election gets nearer....of course, sometimes predictions are wrong. However, as they are very low right now, it's a great time to look for an investment property.
In order to work out your repayment amount each month, either visit a mortgage broker or a real estate agent, or go online and check the mortgage interest tables. The average mortgage is running at 6% interest now, at the beginning of March.
A holding deposit can be reasonably small, but you will need to put down maybe 5% or 10% when you finalize your deal with the broker. Legal fees can be ascertained by getting three quotes, and moving fees can be reduced if you have loads of strong friends with trucks! For more buying information visit my Las Vegas real estate professionals and their articles on buyers.
Once you have worked all that out, you must decide what you want, then choose a Moses Lake real estate agent and start looking. How to decide what you want?
First time homebuyers you may have to forget the lovely old house on the hill, or the swanky new development with the hot tubs - your dream home comes after the 'starter' home. Downsize your goals and look upon this house as a stepping stone.
There are several choices (all ruled by finances, of course). First time buyers can usually afford an apartment, a smaller old home to renovate, or sometimes a condo. The 'sometimes' will depend on the area. Visit my Fairbanks real estate partner and his article on buyer's agent to help you understand the difference between agents.
In some areas, condos are still priced low enough for a first time buyer, especially if you can buy a small studio condo. Never fear about re-sale as more and more people are choosing to downsize, and the aging baby boomers may be looking for a small home when you come to sell.
It really doesn't matter too much which choice you make, because whatever you decide to buy, the property market will go up approximately in the same proportion as all the real estate. As realty in North America has been escalating faster than wages, the quicker you buy a home, the better.
It is possible that condos may have an edge and go up in price a little more. Alternatively, if you buy an older home you will increase its value by remodeling it.
Renovating your first old home can be fun and hilarious! Because you are often dealing with an old place, there is not the same concern about 'ruining' it with your amateur decorating! You will soon get more professional - and what a great training ground for that dream home that you will be moving to next.
Alternatively, you might even get clever enough at the D.I.Y. to make this home into your dream home. It's amazing what a couple can do with a paintbrush and a hammer. Call on our agents when you are ready to get out there. We can help with every step of the home buying process and can get you into the Moses Lake real estate that fits your lifestyle.
ADDITIONAL REAL ESTATE SOURCES: Feel free to visit my newest affiliate in the Olympia real estate market and their articles on buying and selling tips. Ruidoso New Mexico Real Estate services provided by CENTURY 21 Aspen Real Estate including all of Lincoln County. Ruidoso New Mexico Real Estate - Let Coldwell Banker SDC Realtor, Inc. handle all your Lincoln County Real Estate. We provide MLS search for homes, properties and lots in and around Carlsbad, Alamogordo, and La Cruz. Coldwell Banker Panian & Mash serving Abilene Texas Real estate buyers and sellers. Search and save and email updates all Abilene Real estate homes for sale Jason Barrow Realty is your source for information on Kennewick Homes and properties. We can help sell or buy Pasco property and any Pasco WA homes and real estate. Our team is dedicated to the Tri City real estate area including all Richland Homes and real estate. Snohomish county Real estate regions, including Bothell Washington real estate and Mill Creek Washington real estate. Search all listed homes and properties for sale in the King County and Snohomish County Washington Areas.
Your expert in Moses Lake real estate including all Soap Lake and Ephrata real estate. We can help you buy and sell all Moses Lake Washington real estate.