10 steps to buying your dream home

26 October 2010

** Welcome to Top Ten Tuesday here on credit Karma Bootcamp: Plan. * health * 31 days credit

** Guest post today is contributed by LearnVest **.

With the property market in crutches, a national foreclosure fiasco and by even tighter than a drum, your dream home can feel like its an impossible to achieve. Think again.

Our friends at LearnVest demolish 10 key steps to achieve your dream home. A solid credit score, good credit history and House right are just some of the factors involved in this exciting process, but there's more to explore and negotiate.After these steps, you can start also establishes your furniture of dream.

Understand the homebuying costs.

Calculation that could afford to buy now be realistic.You must understand your income, saving, the fixed costs and debts. If you don't use a budget, start now.(Really, now).

Get in the form of purchase of a House.

Pay off/down as many sales as possible.In this way will help improve your ratio of debt-to-income.You need a credit score of 700 + for the best rates.

Educate yourself about mortgages.

There are two types of fixed and adjustable mortgages:. Armed with the facts, you can decide what is right for you. for more information about the options here.

Extract the area.

House prices increased in recent years? are the other abandoned houses or this is a neighbourhood in the city increase? is this? good? schools are public services Are up to par?How close are you to your Office?Consider these questions and more about the surrounding area – after all, that home is where you can live for several years.

Hunt for home.

Once you know what kind of neighborhood and what kind of place is right for you, you're ready for the next step: the house hunting!

Find a mortgage lender and know what to do about them.

You want to find any creditor who has had the type of mortgage you want and that you will be charged the minimum amount for it some lenders for. call compare prices. you can start with the yellow pages or bankrate.com, look for mortgage lenders in your area or ask the real estate and friends for recommendations.

Be Mindful Of Home inspection Red flag.

Assess whether it is in a safe place, if the apartment gets leaks, it is noisy area and there was fired or cracked foundations.

Know how to negotiate.

It is worth to know how to negotiate. This is a big part of how business is done in this area. even if you use an agent you must know the keys negotiation.

Understand your total monthly payment.

Before you decide exactly how much to offer for the home, you want to obtain the most precise estimate possible of what might be your total monthly payment includes not only that the mortgage, but also payment of your home insurance, private mortgage insurance, property taxes and charges municipalities or maintenance fees.

Keep the big picture In Mind.

This shouldn't be a property of flip. This is your home ... If you yourself in the belt for the long term will be better equipped to cali Weather market. chances are that the House will be worth more than you're paying for it.

Read more about purchasing homeowners ' dreams check out mortgage LearnVest core.

CK Bootcamp advice: If you want your dream home fairly badly, start with these 10 steps now and understand what you need to do to get the ball rolling. nobody said that buying a House would be easy – but that is feasible and absolutely worth it.

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