GENERAL FINANCING QUESTIONS Tips for Homebuyers 1. WHAT IS A MORTGAGE? Generally speaking, a mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a lien (a
How Much Does That Home Really COST
A $200,000 home costs more than a $185,000 home, right?
Well, yes and no. Assuming the same type of financing for both homes, the $200,000 homedoes cost more initially. But many factors contribute to the overall long-termcost of a house. Here are some things to keep in mind when trying to determine the true cost of purchasing a particular home:
• Does it have a pool or hot tub that requires maintenance?• How much yard maintenance is required and who will perform it?
. • Are there trees that should be removed?
• What are the utility costs? Although your usage won’t be exactly the same as the current owners, you may be able to get their utility bills for the past year from them or directly from the utility company.
• How soon will the roof need to be replaced?
• Does the house need repainting?
• Does the electrical system need upgrading to handle the load for your appliances and electronics?
• Does the home have aluminum wiring, lead-based paint, or other safety or health hazards you will want to address?
• Does the house need new carpeting or flooring?
• What remodeling projects do you see as a must?
• Will appliances need replacing? What items convey?
• What are the estimated property taxes for the property?
Also, be sure to get a professional inspection to identify other potentially costly problem areas.Tips for Buying How much does that home really cost?This information is brought to you by a proud member of the Texas Association of REALTORS®. Whenever you buy, sell,or lease real estate, make sure your agent is a REALTOR®.
Janna & Jerry Burton
William Davis Realtors
972-625-0852 - Office
214-850-9014 - Cell
http://www.burtonteam.com Search all available homes in the DFW area.
http://goo.gl/s13RSj...Want to see the value of your DFW home in less than 5 minutes?
Jerry and Janna Burton joined William Davis Realty in February, 2009. Both Janna and Jerry hold business degrees from the University of North Texas. Janna has been in the real estate business since 19....