Who says you have to buy the biggest and most expensive house on the block? Why not keep things simple and buy a home based only on the space you need. Even if the house is small, you can still make it look bigger. Of course smaller does not always mean cheaper. There are several things that you will want to pay attention to when home shopping. Make sure that every penny you spend on a new home is really worth it. This may mean that you have to compromise on certain issues. Keep reading below for more information.
Start by looking at how much money you want to pay per square feet. Keep in mind that even if the home is cheap this does not mean it’s a good deal. Basically you are going to determine the value of the house itself. Never pay more than the value of the home. You can figure this out by calculating how much you are paying versus how much the home is worth.
Even if the house is small the price for the property may still be reasonable depending on how much of a yard you get. A small house with a large yard is still worth the money. However you will want to make sure that there are no problems with the yard. For example some yards have contaminated soil. Of course this does depend on what area your home is located on. If the property is cheap it could be something wrong with it so do your homework.
Don’t skip the inspections
You also want to make sure that you don’t skip the home inspection. Yes this will save you some money but it will end up costing you more if there is termite damage. Unfortunately just because a house is cheap does not mean it’s good. There good be damage to the home that you just can’t see. So if you want to make sure that you get what you pay for, pay for the inspection. If you have a good realtor you can ask them for the name of a good home inspector.
The appraisal is also a big part of the home buying process. This is the best way to make sure that you are truly getting your monies worth. Check to make sure that you are getting your monies worth. Check and make sure that the person who is appraising the property is a done by a legitimate person. In some cases the mortgage company will get the appraisal done for you. However there is nothing wrong with asking questions as to what the name of the company is doing the appraisal and how much they are charging.