Learn about current issues in the home buying market before making any offers. By doing so, you can save hassle and grief as the homeowner.
The city of Ann Arbor does not require an inspection of a home before the purchase. Therefore, it is up to the buyer to have one performed. Some of the following items are issues in regards to homes on the market and need to notice:
- Home Insurance Issues
- Painting: Many homes built before 1978 have lead paint that links to cancer.
- Plumbing Standings: Plumbing can be costly, and an inspection can inform said buyer about future costs.
- Windows: Energy efficiency is a general inquiry, and proper windows can help save on heating and air conditioning costs.
- Electrical: Wiring work can cost a bundle if not up to code.
- Asbestos and Mold: This can potentially be deadly and financially disastrous.
Interest Rates and Home Buying
When interest rates are high, it means that it will cost more for a home buyer to borrow money to purchase a home. This is because the lender will charge a higher rate of interest on the loan in order to compensate for the increased risk of lending money at a time...
What loan is right for me?
Buying a home is a long term process. In other words, you don’t usually pay cash upfront and fully own the home. So you will have to qualify for a loan. There are different options for you, which makes it possible for so many people in different scenarios to be a...
What is the Buying Process?
Step 1: Find a realtor A realtor’s job is to meet your needs during the process of buying a home. Step 2: Visit ideal homes The real estate agent listens to what you’re looking for and offers advice based on those principals. They will show you available homes that...