First Home Buyer- The Works

Charlotte First Home Buyer- The Works

First steps, dive into all the technical data, having fun yet?? Or you can take some time to find some expert help, or call for immediate help, 704-351-1519

To maximize your savings and minimize your risk, 1) inform yourself, and 2) you will need two key advisers, a quality lender willing to work with you, and a skilled Buyer Agent, watching your back, and taking the time to answer your questions, and willing to work to get the best deal.

Avoiding The Land Mines and Sand Traps in First Home Buying

Land mines are never good and in real estate, the land mine, metaphorically speaking, costs you money, time or probably both. And the sand trap?  Sand traps cost you time, and sometimes money, though usually not as much… but  you might miss one opportunity while chipping out of the sand trap. In Buying your first home, you’d like to avoid the sand traps and land mines in the process- its much more fun that way, and that’s why you need a good Buyer Agent.

Land Mine: Next, you may already be here, but are you looking for a town home, condo or single family? I think this is based on several factors, the most important of which is location– can I buy the type of home I’d like, in the area I must have.

Let me explain by asking you a question. Suppose you are single and want to live uptown, and you strongly prefer living in a townhouse or single family over a condo… your budget is $200,000 and you don’t want to stretch that either… the problem? While there is a fair selection of condos for under $200,000, there’s almost no townhomes, intown, for under 200K, but you find a nice one out around Southpark..

So in town Condo, or Southpark townhome? Based on this scenario, and these facts alone, I’d recommend you live intown in the condo- Live where you want to live. Why?

Because location is that important, and because the real key to most people’s happiness is how well connected their location is–are you where your friends will just drop by? Or a 20 minute drive away?

This, or a variation,  is a common first home mistake, believing the house “features”, in this case the housing type, is more important than the perfect location. They are not-I’ve tons of evidence, including real life stories, if you need more. There are a few exceptions, but 95 out of 100 will be happier taking the location and smaller house, than the alternative more feature house in an area you don’t love… that’s going to be hard for some of you to swallow, but I’m happy to provide examples, and of course, the exceptions are at the edges.

There’s more, so much more, but that’s all for now. Give Terry a call at 704-351-1519,or wait for the next installment, but hurry, the Federal tax incentives end November 30, 2009…the house has to be closed by then, IRS rules, so we better be putting an offer in early to mid-October.

Sand trap You  want to buy this very cute condo in an older building in Myers Park. But what are the downsides? You asked the Agent who showed you the property- the Agent listed in Realtor.com,and you weren’t happy with his answer… because he never did answer… Why is that? The reason he never answered is because there area a Lot of potential downsides, and since he represents the Seller, the last thing he wanted to be doing was to be educating you, the Buyer, on the downsides of an older building.  That’s what Buyer Agents are for…

That’s all for today, for my complete First Home Buyer course you’ll have to call me, and, once comfortable, hire me. 704-351-1519 Terry McDonald

Try this link if you need immediate help.