Jerry Pinkas: What Questions to Ask When Buying a Home

Are you ready to purchase your dream home? When it comes to buying a new house, it is important to ask yourself some important questions so you know the important things you need to take into consideration.

The first question to ask is, "What is my budget?", because getting the right price is not only the cost you have to pay. The profiles of most home buyers is that when they go online, they don't really have a clear idea of how much they can afford, but it is important to also take into consideration other payments that may come along the initial price of the house. Apart from the upfront cost of the house, you also need to consider the cost of repairs, renovations, and other cosmetic changes, as well as miscellaneous fees on top of the monthly mortgage payments. What are the expected actual costs due at closing? Closing fees include real estate commissions, attorney's fees, title insurance, and home inspection cost. You have to also include the cost of new appliances, window treatments, or flooring in your budget. Learn more on  Buying A Home.

You also need to ask yourself these questions, "Am I financially capable of buying and sustaining the home?", and "Is my financial status stable or in order?". Before making an offer, it is crucial to get pre-approved for a mortgage. It is important to review your credit score and ensure that you will be pre-approved by the lender. Often times, lenders don't approve mortgage loans if there is a blemish in the credit history of the applicant.

It is also important to ask yourself this question, "What type of mortgage loan should I get?" Remember that no single mortgage fits all, and there are different terms and conditions involving a 15-year or a -3-year loan, or a fixed-rate or variable-rate. Choose a good loan oficer that can help you get the best loan for your mortgage needs. See more on  Questions To Ask When Buying A Home.

What is in the history of the house? Do not be deceived on what you only see on the outside, look into the inside for pest infestations, plumbing issues, and other hidden problems. How much should I make an offer? If your offer is too high, you are actually ending up making an overpayment, and if it is too low, you may end up losing the home sale. Click for more.

In order to help you determine the price offers in the particular area you are willing to buy a house, it is important to work with an experienced and professional real estate agent such as Jerry Pinkas Real Estate Experts. You and your real estate agent can make a good strategy to make your offer stand out.