How To Buy A House


Looking for a place that you can call your own home. It's not the home of your parents, family or friends, it's your own house. This place you can finally say this is my house, there is no greater feeling, when you have the keys to your own kingdom.  How to buy a house, do you know what you need to do first, second or third when you are at the beginning stages of buying a house?  Buying your own house is it a random act, do you close your eyes, point your finger choose a house, say I want that house over there.  Is that how you buy a house. How to buy a house, there are many things to consider, before giving your hard earn money, as6 a down payment, commit to a 30-year mortgage.  You need to know the area, crime rate, schools, declining, or increasing housing values.  All of these issues, affect house values, you should seriously consider before you make a commitment to buy a house. 

Buying a house requires that you have your financial house in order, such as; credit, down payment, bank or financial institution who would provide the financing to complete the purchase of your house.  You need to have decent credit to good credit and a credit score of 620 or above, down payment, can range from  5% to 20%, there are some lenders who will give you 100% financing.  Also, there are some lending programs, that let you have 3% down payment, as I stated early financial programs vary, depending on which financial institutions are doing the lending. 

Finding the right house to buy, is another major issue that is a must to consider. You can close your eyes, choose whatever house you want to purchase, because it is your decision, when, where, how to buy your house.  I would not recommend that you do that because you will more than likely buy the wrong house, in a bad neighborhood, high crime, bad schools, declining house values, with a 30-year commitment.  There is no easy way to get rid of a house unless you put the house up for sell.  So why not do it right the first time, alleviate all of those issues to purchase from the beginning. 

Finding a house seems so simple, you drive around town looking for the right house, then all of sudden the right house jumps out at you and wham, you have a house.  Unfortunately, it does not work out, like you want it to work.  First, you have to get permission from the seller, can you visit, see their home. You would like to see the inside of the house because it may look nice from the outside, but the inside could be a terrible mess. You want to know something about the school system if you have children that are in grade schools. You can contact the school board, asked for their ranking state, country wide.  

Asked the school board member(s) do they graduate children at a high rate, or is the dropout rate higher than the graduation rate. That is something you want to consider before you buy a house.  Another important issue is the crime rate in the neighborhood, where you are considering to buy your house. If there is high crime rate, a lot of gang members or gangs, burglaries, shooting, murders, this would affect your house value, you would be paying for more police services, not paying for other services that are truly needed in your neighborhood.  

Also, your house insurance coverage would, more than likely be higher than other cities or neighborhoods like yours, because of the high crime rate. Houses in areas where high or increase crime rate, poor schools, poor graduation rates, poor school systems, will have declining house values. These are issues that should prevent you from purchasing a house in that neighborhood. 

The real estate industry has a saying, about purchasing real estate, which is; "location, location, location", might be the most important decision, when you are trying to buy your house. Some real estate locations are very expense because that house is in a nice part of the neighborhood or city.  Those homes in great or good locations some time will increase in value or they have increasing house values, good schools, low crime rate, high graduation rates, low insurance rates, all of the things that will save you money.  Not only that if you decide to sell your home, there is a good chance that your home has increased in value and a very good chance of selling very quickly than other houses in the area. 

Again you can do all of this research yourself, which is very time-consuming, but is very important that you know, what the crime rate is, school graduation rate, dropout rate, school ranking statewide and nationally, insurance rates, before your buy your house. Knowledge is power, with this information you will make a better buying decision.  You can go it alone, do all  the research yourself, or you can commission a realtor, or a real estate agent, who could and will be more than happy to work with you to find the right house for you. 


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