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Buying Real Estate: Advice You Should Follow by lisa zenari





Article Author Biography
Buying Real Estate: Advice You Should Follow by
Article Posted: 04/17/2012
Article Views: 52
Articles Written: 76
Word Count: 418
Article Votes: 0
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Buying Real Estate: Advice You Should Follow


 
Health
Do not be a sucker when you buy a new piece of real estate. Dont be dazzled by the first thing you see, even if it seems to be your dream home. No one wants to get ripped off. Often times wonderful houses sitting on the market too long may have a reason.

When buying a home after a previous home has foreclosed, you may be asked for a larger down payment. In many cases this is usually around twenty percent. The larger a down payment you can put on a new home the lower the interest rate is going to be for your loan.

Before you purchase a piece of real estate, it is important to hire a building inspector to inspect the property. A licensed inspector will be able to alert you to any problems with the property, and can advise you on how to fix any issues found. It is a small investment to make, and it could save yourself from costly future repairs.

Look for extra features that will allow you to charge more rent. When looking for an investment property that you will use to generate rental income, at least for some time, consider one that has integral garages. Depending on the location of your property a rental unit with a garage may be unheard of. Therefore, it may also result in extra income each month! Some people are willing to pay a premium in order to have access to a private garage when they are renting. Consider this when you are looking to purchase a property.

If you are not prepared to deal with lawn maintenance, do not purchase a home with a big yard, no matter how nice the home may seem. Whether you like it or not, you are going to have to keep up with a lawn, even it means hiring someone to help you. This will just end up costing you more money.

As said before, its a treacherous area of business. Amateurish mistakes, such as overpaying for a house, can cause individuals to remain stuck with a mortgage or house that no longer retains its value. Thats why its important to utilize the advice of real estate agents, but also, you must do some personal research, in order to verify a good deal.

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