LOCATION: The Most Important Questions Every Buyer Should Ask

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Buying in Wilmington NC?  www.Wilmingtonncrealestate.com

It’s a maxim in real estate that the three most crucial factors in selecting a house are “location, location, location.” It’s also true! No matter how wonderful the house is, the location is key to how well you’ll like living in it and how well it sells when you’re ready to move on. Before you buy, carefully check the following factors to be sure the house you like is really the one you want to live in.

Location:

Consider destinations
Where will family members go most often from this new location? How easy is it to reach those places from the house? How accessible are schools, churches, grocery stores, medical care, public transportation, shopping malls and emergency services?

Figure Eight Island

Figure Eight Island

Be sure rooms have a view
What is the view from the house and yard? Is the yard right for your anticipated activities? What uses are possible for nearby undeveloped land? Is a new road or commercial development planned?

 

Check around the clock
Is rush hour traffic a problem? What will be the impact of special events such as local high-school games or church picnics? Crash test the driveway. How easy is it to get into and out of the driveway?

Be service conscious
What utilities serve the property? Are the rates competitive? Do you want an all-electric house, or do you want gas or oil heat? Where will you get your mail? Are there any easements?

Dig below the surface
Is the soil stable? Is part of the property on a flood plain? If so, what is the history of floods on the property and what would flood insurance cost?

Visit the neighbors
How will you fit in with the neighbors? Do people seem to be friendly? Are houses well-maintained?

Read the fine print
If the community has special by-laws or architectural controls over changes to a house, what are the pros and cons?

Make a list of the positive and negative aspects of each property as you tour it. Assign priorities to important elements of the house’s location. If you have questions about a home’s location, we can help. Call or e-mail us now. Here are some affordable home neighborhoods. http://www.cbbaker.com/affordableHomes

kaybakerassociates@ec.rr.com

Categories: first time home buyers, wilmington nc

Are there any inside tips on down payments for first-time buyers?

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Folks who are new to the home-shopping world need more than just good luck. You should, of course, save all you can for closing costs and a down payment. For further help:

  • Revisit your “wish list”

Reconsider what you’re looking for in a first home. Find out what you can afford now, and consider buying a starter home that requires a small down payment with the idea of moving up in a few years.

  • Take advantage of special programs

Look into special low- and no-down payment programs like loans guaranteed by the Department of Veterans Affairs (VA) and Federal Housing Administration (FHA). Some areas also have local programs for low- and moderate-income families or first-time buyers, offering lower interest rates or down payments.

  • Gather gifts

Check with parents and relatives for monetary gifts that can go toward a down payment or closing costs. A 20% down payment can dramatically cut monthly costs and eliminate monthly mortgage insurance premiums.

  • Consider “sweat equity”

If you can fix up a home that’s in poor condition, you increase the value of your investment faster. Ask us about special combination loans that provide fix-up funds as well as purchase money.

  • Scour market for bargains

Call on us to research foreclosure properties, housing auctions and other homes available at below-market costs.

Want to know more? Click on “Ask Your Own Questions” or call or e-mail us today with questions of your own. We can tell you how much house you can afford, and we can help you get into your first home.

Categories: first time home buyers, Waterfront Wilmington NC, waterfront wrightsville beach, wilmington real estate stats


Kay Baker Associates | 1001 Military Cutoff | Ste 101 Wilmington, NC 28405 | kaybakerassociates@ec.rr.com | 910-202-3607 | Fax 910-338-2428

Copyright © 2017 Wilmington NC Real Estate Guide. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.