| You're decision to purchase a home is probably one | | | | away? |
| of the most important that you'll make over the | | | | All homeowners need to pay homeowner's insurance, |
| course of your life. It's a great idea to do some | | | | but make sure no special insurances are needed on |
| research before you make an offer. Although the | | | | the home that you plan to purchase. If the home is |
| purchase price is very important, there are other | | | | in a flood or hurricane zone, the mortgage company |
| numbers that should also be analyzed. Many of these | | | | may require you to purchase additional coverage. |
| items are skipped over or ignored by impatient or | | | | Buying a house outside of a flood zone can make a |
| excited home buyers. Many of these can really make | | | | huge difference in your premium. Flood insurance is |
| a huge difference in cost of the ownership of the | | | | expensive. |
| home. | | | | Closing Costs are another thing that deserves |
| Interest Rate is used to determine how much you | | | | attention during the home buying process. Many |
| will pay the lender in order to borrow the money for | | | | different mortgage companies will have different |
| the home. It is always best to shop around for the | | | | fees and some will even call the same fees) |
| best interest rate. On a $500,000 home a difference | | | | something different. The best way to do this is to |
| in 1 percentage point can make a $336 difference in | | | | get a good faith estimate from all possible candidate |
| monthly payment. This is a considerable amount. For | | | | mortgage companies. Based up these estimates you |
| some people, $336 per month can buy a car. Make | | | | could see which company is giving you the best deal |
| sure you research interest rates really well before | | | | on fees. |
| making an offer to buy a home. Having a good credit | | | | If you're working with an agent, he/she should be |
| rating will help you with getting the best rate possible. | | | | able to give you comps. Which are actual values of |
| Property taxes is a huge one that many buyers | | | | similar homes that have sold. You don't want to |
| overlook. You can sometimes save thousands in | | | | make an offer on a house without reviewing these |
| property taxes by purchasing in a neighboring town. | | | | numbers. This will really give you a good idea of how |
| If two houses have the same purchase price, a | | | | much to offer for a property. |
| $1200 per year difference in property tax is $100 per | | | | When making an offer on a home, this article is not |
| month. This could be significant as the difference | | | | an absolute list of items to take into consideration. |
| gets larger. Wouldn't it be nice to put that extra $100 | | | | There are many other things that need to be |
| per month towards the purchase price and now you | | | | analyzed. The intent of this article was just to touch |
| could afford a more expensive home just one town | | | | base on some of the more prominent ones. |