Buying a home is a potentially extremely rewarding decision but is also filled with its share of hazards. The problem with the hazards of buying a home are how costly they can become given that homes in general are extremely costly. Sticking to some simple guidelines will greatly increase the chances of success and a happy home buying situation. Here are three points to really keep in mind when buying a home.

The first thing a home buyer should keep in mind is to buy a home only if there is a definite plan to live in the home for at least three years. Buying a home and then quickly selling it is a very risky process. Even in a market where prices are shooting up, the costs incurred at the transaction period of the home will usually be more than the natural equity a home has gained in a relatively short amount of time. Homes take time to properly appreciate in value. Because homes really do take time to appreciate in value, a buyer should shy away from buying if they know that they are going to move on their own, their job is most likely going to relocate them, they are thinking about getting a divorce, etc. The longer a buyer is in their home, the more a home will grow in value and price and recover the cost incurred at closing and find the home was a rewarding venture.

The second thing an individual interested in owning or purchasing real estate should realize is how important their credit is. Almost everyone who wants to invest in real estate or purchase their own home has to take out a loan or a mortgage. A first rate indicator to any loan officer who is being asked to give a loan to someone is the persons credit. Credit is more or less a measure of an individuals ability to make good on their commitments and responsibilities. Since a mortgage is such a large responsibility, a good credit score is needed to prove that the borrower can handle that responsibility. Ways to really improve ones credit is to take out a credit card and pay it off every month, or to get a car in ones name and pay it off. Also if one is renting, make sure the rent is in the same name as well as the utilities.

The third thing a potential buyer could do or should realize is how helpful it is to search for a home that is well within the buyer’s ability or range to pay. The last thing a home owner should want is to dedicate their entire life and every aching moment to paying off their monthly mortgage payment. The kind of life that is required to maintain a home that is simply “too much home” for a particular buyer is a life of servitude. The buyer becomes a servant to their home. Walking away from a home and losing all credibility is a tough and unbeneficial road to walk.

Author Bio: Juhlin Youlien writes about Paradise Valley AZ homes for sale and Fountain Hills AZ homes for sale and other real estate like Gilbert AZ homes for sale and Scottsdale Golf Properties.

Category: Real Estate
Keywords: homes for sale, real estate, buying a home, selling a home, loan, mortgage, foreclosurehomes for sal