Welcome to the exciting world of residential real estate; whether it is buying a home, selling a home, investing in a home or building your very own dream home! The fact that you have picked up this book and opened it up to the Introduction, is because you are seriously contemplating acquiring a home, and you are searching for additional support and information regarding the process-- from finding the best home, to finalizing the contracts that make it your own. You might even have to make remodeling and renovation before or after you purchase. This book even touches on investing from fix-and-flips to rentals.
Regardless, you have come to the right place. Finding and purchasing a home is a major step. Or to better put it, is several huge steps—as a first-time buyer, the process can seem long, complicated, and often a little confusing. This book takes some of the confusion out of acquiring a home, taking you on a journey through each step of the process, and offering pointers and details along the way. And if you have purchased residential or commercial property in the past, this book functions as a detailed refresher with information on current real-estate opportunities and practices. Novice or expert, you will feel more confident moving through the process for one of the most significant financial decisions you will ever make.
A home purchase, whether to live in, sell or rent is a big decision, and usually, many prospective buyers worry if they are ready to make it. If you currently rent a home, you might wonder if you can put together the down payment to purchase a home. Simply looking at real estate listings online or in the Sunday paper can have you breaking out into a cold sweat. Yes, houses can be pricey, but they are also a financial investment now and for your future-- and for numerous homeowners, it ranks as one of the most significant investments they've ever made. Questions that surface from the onset can revolve around how much you are currently spending on rent, how pricey houses are in your area, what your credit report looks like, as well as how long you intend to reside in your home (to name a few variables). Depending on who you talk to, purchasing a house is frequently less expensive than renting over the long run. After all, when you lease, you pay for the landlords' roof over your head. On the other hand, when you buy, you end up being the owner of that roof-- and whatever is beneath it. Perhaps you have heard it is a good time to buy a home; or not. In many parts of the nation, prices are tied to housing supply and demand characteristics. If the number of houses in a market for sale is high and there are fewer buyers, this produces a buyer's market. But if the number of houses in a market for sale is low and there are more buyers, this produces a seller's market. Prices will fluctuate depending on these housing supply and demand characteristics. News of foreclosures in conjunction with various other homebuying calamities might make a person nervous about moving forward with a home purchase decision. On the other hand, that could also be a buying opportunity given other variables, such as interest rates, population growth and migration. This book is designed to relieve a little of the mystery and reduce some confusion about purchasing a house.
You dip your toe into the housing market the minute you start thinking about looking for a house to purchase, and then full-blown dive in the minute that you acquire your first home.