HOUSE HUNTING 101: THINGS YOU SHOULD CONSIDER BEFORE BUYING
Buying a house is a long-term investment with emotional and financial ramifications. Whether you are planning to buy a house or not, the New York Times has compiled a list of items to think about before you make your final decision to purchase a house.
-Most houses have two agent fees: one for the company leasing the house, and one for the one leasing time as an agent for the house seller
-A termite inspection in done to feel the home’s underlying material to look for termites.
-A new roof is usually needed every 20-30 years
-An estimate of repairs and maintenance for the year should around $1,200
-A broker usually charges an 8% commission for a sale, with the exception of a first-time home buyer tha sometimes charges a 4% commission
-Insurance includes homeowners’ insurance, which covers the house and its furnishings, and theft and casualty insurance, which covers loss from harmful events.
Buying a house is a large decision, both time-consuming and economically costly. What are things that people ought to know before cracking the decision to buy?
Homeownership is a long term investment, and can involve a lot of personal and emotional investment. Buying a house can be a big decision, and is both time consuming and economically costly. Before you make this decision, there are a number of things you should keep in mind.
First, most houses have two agent fees – one for the company leasing the house, and one for the one leasing time as an agent for the sellers. The latter is typically between 4% and 8% percent of the selling cost.
Secondly, termite inspections examine the underlying material to look for termites, and a new roof should be undertaken every 20-30 years, with an estimate of repairs and maintenance being around $1,200 per year.
Third, an estimate of insurance should be around $1,200 to cover different things like homeowner’s insurance, which entails coverage of the house and its furnishings, and theft and casualty insurance, which covers loss from harmful events.