So you’re ready to buy a house and call it your home but you don’t know what’s the best home for you, how long you may actually want to live there for and if you’ve got everything covered. You should know before making a commitment of being a home owner. While being a home owner can give anyone a peace of mind it also comes with a lot of responsibilities, and there are certain things you should look for before making the big commitment of buying your own home. Here are 5 things we believe everyone should know before spending their hard earned money on a new house.
Check The Condition Of The Roof
A professional replacement for a roof can be very expensive with an average costing between $1,700 – $8,400. Before looking in the inside of the home it’s best to make sure the roof doesn’t look like it’s caving in or is extremely worn. Take a close look and make sure your roof can stand up in strong winds and even hail to avoid a unexpected costly expense.
Read The Full Contract
It’s easy to just take a glance over the contract and rush through the signing process. Many of the papers you sign may look like normal contract papers for home owners but it’s also an active negotiation. You can change things you may not be comfortable with in the contract and make sure all of your needs are met.
Take a look at what’s beneath the surface, It’s best to get underneath the sink in the kitchen and bathroom to make sure no water mold or water damage from leaks has happened.
Remember All The Fee’s
Expect to pay anywhere between 2 – 5 percent of what the purchase amount of your home was. The average person spends about $3,700 in closing fee’s. Another expense to remember is mortgage insurance if you finance your home as well as homeowner’s insurance. There is also title insurance, appraisal fee’s and escrow fee’s.
Only Buy If You See Yourself Living There Long Term
Before you buy your home you should ask yourself a few questions about your living situation. Will you be getting married in the near future? Will you have kids? Do you like the job you’re at and will it provide enough income to keep things going? These are all good questions to ask yourself before purchasing a home.