Becoming a homeowner of course brings with it paying for various fees and services, but there are smaller fees that you may not be thinking about when penciling out how much you can spend on buying a home. Add into your budget fees for the following buyer fees:
When you write a purchase offer, the back-and-forth between you and the seller begins (typically with real estate agents advising both of you) — and when you are intentional about your number and why, the more successful you’re offer will be.
Following some guidelines from HouseLogic when choosing your purchase offer amount will help:
Know your financial limits and stick well within them.
Get familiar with the real estate lingo (an agent helps tremendously here!)
Have your agent run the comps to see how the list price of the home compares and then take other aspects (like time on market, availability of other similar properties in the area, etc) into account.
Figure out your down payment.
Make an earnest money deposit if you’re truly serious about buying the house.
If you’ve never bought a home before, the whole process can seem a little confusing. One of the first things you have to figure out is whether you should get a fixed-rate or adjustable-rate mortgage. Most people choose the fixed-rate mortgage without even thinking about it, but there are situations where an adjustable-rate mortgage may be a better fit.
There is a rising trend in residential real estate – in the single family homes sector. Builders of new homes are tailoring their design and subdivisions in order to gain single women homebuyers.
Nationwide last year, single women made up 18% of homebuyers, while single men only accounted for 7% of all home sales, according to the National Association of Realtors. This category of single women included those: never married, widowed, and divorced. Spending for single women also is more than it is for single men, on average. Single women are now the second highest group of purchasers, behind married couples of all homes.
This trend is expected to increase over time. The evolution of real estate ownership, as well as the evolution of business leadership, will both increase for women in years to come.