Buying a new townhouse can be an overwhelming thought, especially if it is your very first time buying a new home. There are many considerations to factor. Such as, the location of your new house, the price range, the condition of the home, and many other tangible as well as intangible factors.
One thing to consider would be the condition of the home versus the price point. You might be surprised to learn that Paxos Homes offers brand-new, luxury townhouses in Whitehall Pennsylvania at a price point that is very competitive with existing homes that are older and need repair. Learn more by checking out our move-in ready new home listings in Whitehall, PA.
Once you have decided to buy a new home, one of the first things on your “to-do” list should be to shop for money. You need to know how much of mortgage you can afford and how much you are willing to take on. Prior to speaking with a mortgage lender, it is a good idea to understand your personal budget. Allie DeCastro wrote a nice article, “10 Handy Tips For Buying Your First Home” that talks about the different aspects of buying a new home and the one piece of advice that she gives about money is spot-on.
Know your budget … Truthfully.
This may seem like common sense, but having your heart set on what you can reach rather than what you can grasp is vital to the long-term survival of a homeowner. Sitting down and seriously looking at your average monthly budget and what your target mortgage should be is something every first-time homeowner needs to do. More importantly, don’t forget that your down payment and mortgage are only the tip of the iceberg. You need to take into consideration home-related expenses, such as insurance, utility bills, taxes and maintenance –or PMI if you do not have 20% to put down as your initial downpayment. In addition to the bills that arrive in your mailbox each month, it’s also important to factor in other important monthly expenses – such as the cost of groceries, food, gas, car payments, and funds for the occasional night on the town eating out and having fun.
This was originally published at: http://www.remax-nj.com/blog/10-handy-tips-buying-first-home/
Once you have a solid understanding of your personal money situation, then it is time to start shopping for money. Anita Clark wrote an article titled, “3 Tips to Select a Mortgage Lender” that talks about finding a mortgage broker online. In addition to finding someone online, Paxos Homes can help by providing some referrals of local Lehigh Valley mortgage brokers. Is is very easy to get wrapped up in the excitement of buying a new home and to overlook this step. However, this is a very important element of your new home buying process.
Finding a Lender Online
This method makes it easy to view real-time rate quotes with detailed line-item fees without the pressure of a face-to-face meeting. The detail you will get from the quotes is similar to what you will typically find in a Good Faith Estimate.
Searching online also affords you the opportunity to read extensive lender reviews before connecting with a lender, so you feel comfortable before providing any documentation. Shopping online is the fastest way to ensure you are getting the best rates and fees while simultaneously connecting with a local lender.
When you have narrowed your search, ensure you interview the prospective lenders to find out more about their experience, specific rates for your situation, and their qualifications. If you want to be even more thorough, ask for references and follow-up with the names they provide to find out more details about each lender.
Also, a quick check on nmlsconsumeraccess.org will let you know if they are registered in your state. While this may seem extreme, it only takes a few minutes to determine if your prospective mortgage lender has the authority to assist with your real estate buying needs.
Read the full article here: http://sellingwarnerrobins.com/2015/06/3-tips-to-select-a-mortgage-lender/
Working with a great mortgage broker is an important part of the home buying process and one that should be considered in the early phases of buying a home. It is pointless to go shopping for a new home and fall in love with it only to find out that you can’t qualify for the mortgage to buy it. Save yourself some heartache by shopping for your mortgage in the early phases of your home buying experience.
Once you have decided on a new construction home, start looking at all of the features and get a good understanding of what is included and what isn’t. Paxos Homes offers many great features in our base model so be sure to ask your sales agent for all the details. Here are some more tips on this topic from HGTV’s article “How to Buy in New Construction“:
Get a feature sheet on the line of homes you’re interested in and read them very carefully, then compare feature to feature. Find out what comes with the base home price.
If you don’t understand exactly what the builder is offering, ask and take notes. There are no dumb questions. Not knowing can cost you real money. Some things to keep in mind:
- If the stove is included, visit the showroom to see the model. If you’re offered the basic stove and you’re a gourmet cook, it makes sense to buy the upgrade.
- Make decisions on upgrades early in the process — every change costs money.
- Have a good idea of what you need and want. They are two different things when it comes to upgrades.
Read the full article here: http://www.hgtv.com/design/real-estate/how-to-buy-in-new-construction
The advice offered in this HGTV article is good. But rest assured that Paxos Homes will help you navigate the waters of selecting options for your new home. Enjoy this process because this is when things really start to become fun. Your new home starts to take shape and you begin to imagine and see you and your family living in this community. After you have closed on your new town house, it is time to move in and make your dreams a reality! Houselogic wrote an article titled, “6 Things Everyone Should Do When Moving Into a New House” and while the article has many moving tips that don’t really apply to buying a new construction home, there was one tip that we found to be useful;
Introduce yourself to your circuit breaker box and main water valve. My first experience with electrical wiring was replacing a broken light fixture in a bathroom. After locating the breaker box, which is in my garage, I turned off the power to that bathroom so I wouldn’t electrocute myself.
It’s a good idea to figure out which fuses control what parts of your house and label them accordingly. This will take two people: One to stand in the room where the power is supposed to go off, the other to trip the fuses and yell, “Did that work? How about now?”
You’ll want to know how to turn off your main water valve if you have a plumbing emergency, if a hurricane or tornado is headed your way, or if you’re going out of town. Just locate the valve — it could be inside or outside your house — and turn the knob until it’s off. Test it by turning on any faucet in the house; no water should come out.
You can Read the complete article here: http://www.houselogic.com/blog/maintenance-repair/things-to-do-when-moving-into-a-new-house/
As you can see, there are many things to take into consideration when buying a house. If you are thinking about buying your first home or buying a new home in the Lehigh Valley, Pennsylvania, we welcome you to look at a new construction town house in Whitehall. Our community is centrally located in the Valley, is quiet, close to shopping and home to a great school district. Feel free to contact us for a tour of our model homes. Call (610) 443-0722 to speak to one of our sales agents or browse through our virtual tours.