3 Things To Know If You’re Buying a House Now

Well, it’s too late. The $8,000 first time homebuyer tax credit has expired and I didn’t cash in on it. Oh well. The sales season is till under way and there are good deals across the country to be had. Here’s a few tips from the experts that I spotted in the Boston Globe about what to do before you buy.
1. Be Financially Set – Buyers need to consider all of their obligations such as how much money they’re going to need for a down payment, monthly payment, property tax, condominium fees (if applicable), insurance, utilities, transportation costs, and a buffer for repair costs.
2. Know The Market – Investigate what comparable properties have sold for over the past three to six months, and if you’re working with a buyer’s agent, he or she should know what fair-market value is, not just the list price.

3. Ask Key Questions – Sellers and their agents should be prepared to answer questions including how old the roof, heating system, hot water heater, and windows are; if the basement has taken water in the time the seller has been there, and if there’s a sump pump; and what utilities and homeowner insurance generally cost.
To read the rest of the article from the Boston Globe, check it out here.

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Timothy Dahl

Timothy Dahl

Founder/EIC at Charles & Hudson
Timothy’s background includes stints at This Old House, ELLE DECOR, Metropolitan Home and Woman’s Day. His work has been published on Wired Design, Bob Vila, DIY Network, The Family Handyman and Popular Mechanics and he has been featured on the Martha Stewart radio show and as a speaker at the ALT Design Summit, K/BIS and the National Hardware Show.