Recently I received a letter from a reader who asked if having a tall water tower about 1,000 feet from his house would hurt his home's market value. By coincidence, a few days later I saw an appraiser friend at the local post office so I confronted him with that question.
If you're thinking of purchasing a newly-constructed home, you should first consider a variety of important factors. Many home buyers want brand-new homes because they're energy-efficient and offer the opportunity to choose specific design features. However, without the proper research, you may find your new home doesn't measure up to the specifications you desired.
As the property market cools down, it becomes a good time for property buyers. If you don’t have that much money to spend on a house, but you’re absolutely convinced that it’s the right time for you to move (or if you’ve found an intriguing investment property) then you need to learn how to make a lowball offer — and get it accepted. Generally, a lowball offer is 10% or more below list price.
It's not uncommon for buyers to look for six months or more before finding the right house or condo to buy. Sometimes, it takes even longer if listings are in short supply. Lucky are the home buyers who find a great property that suits their needs soon after they start their search. But, finding the right property earlier than anticipated can pose a problem for some buyers.
It's easy to assume that negotiating is adversarial. You, the buyer, are on one side -- the side that wants to buy a property for the lowest price possible. The opposition on the other side is the seller who wants to sell for the highest price possible. You're locked in a tug of war to see which side will win.
Home inspections are not required by law, so it can be tempting to skip them. Inspections cost money – and when you’re buying a house the expenses add up quickly and you might feel that adding inspection fees on top of everything else is just too much. On the other hand, a thorough home inspection before you buy can end up saving you money in the long run. An inspection may uncover problems within the property that might give you leverage to negotiate a better price, or may discover problems so severe that you decide against buying the house at all. A home inspection will cost between $300 and $500. All things considered, it’s a small price to pay for peace of mind.