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As a Buyer,
you hold the keys to your new home. The decisions
you make, depend on what you really need. For
Instance, If you want a new home, then buying a
home in a new community may be a good choice. With
Cable Internet Connections installed in new
communities throughout the U.S., your new home
could be the Home of Tommorrow! Ultimately,
the choices you make when buying a home depend on
many factors. For instance, if you have children,
you will want to research local schools. If you are
seeking a retirement property, you may want to know
the crime rate and health care options in the area.
If you are a young couple, newly married, then your
search might include room for expansion and
longterm investment.
 If
you want to customize your home to your exact
specifications, then buying land and building a
your own home would be ideal. The general cost to
build a Stick-Frame home is estimated at
approximately $100 per Square foot in the U.S. The
Architect fees alone could run between $2,500 and
$7,500. To give you an idea, a 2,000 Sq.Ft. Home
could cost $300,000. Beware that there are
contractors that offer their services as
sub-contractors, and claim you, the owner, can
organize all aspects of the building. This is
invariably a mistake. There is a reason why one
contractor generally handles ALL building
operations. Number one, that contractor is liable
for all the work completed or incompleted.
Secondly, they are professionals and know how to
work closely with architects. Simply by design, an
architect can save lots of $Money on materials; by
eliminating the need for off-cuts and wasted
lumber. Finally, check references and never pay in
full for the job before it is completed.
Another
alternative is Manufactured Homes.Today, these
homes are of two types; either Mobile Homes or
Pre-Assembled Homes. As of 1973, Mobile Homes have
taken on a new look in the U.S.The standards for
construction are the most regulated in the
Industry. These are by far the easiest to construct
and fastest to move into. Sheet Rock Interiors,
make them virtually indistinguishable from a
Stick-Frame Home. The cost to buy a Mobile home is
as low as $30/Sq.Ft. A 2,000 Sq.Ft. Mobile Home
could cost $60,000.
Comparably
speaking, a Pre-Assembled Manufactured home costs
about $75/Sq.Ft. to build. The possible drawbacks
with this method are two-fold. First, you don't
control the quality of materials used. And
secondly, there is no solid guarantee of completion
time. Carrying all the materials to your location,
orchestrating countless contractors, and meeting
local building codes can be a difficult process.
There are, however, many qualified Manufacturers
that can do it all for you. The outcome is usually
a home that Looks and Feels more unique than most
Tract Homes.
So,
within the realm of choosing a "new" home, you have
many options. Now, multiply those options tenfold,
and you will know what to ponder in buying a
"pre-owned" home. First off, look for homes with at
least a One Year Warranty.
Many
insurance Agencies, are now offering Sellers, a
policy to protect Buyers. After meeting certain
criteria, the Seller qualifies for a Warranty
against any malfunction or structural damage
identified within One Year of the Sale. Apart from
traditional Escrow requirements, like Pest Control,
this Warranty could cover problems with Heating,
Air Conditioning, Water Damage, etc.
Another
factor to look out for when buying a used home is
location. This is where STATE-ISTICS
can be useful. Always investigate the crime rates,
population growth, and education opportuities in
the area you are searching. Those are the telltale
clues about your future home. Nowadays,
encroachment is a serious problem. Growth rates
have been so excessive in certain areas, that the
actual market value has decreased! Demand is good,
but too much demand is bad.
If
you are seeking a rural lifestyle, then you should
have no problem finding excellent value in the U.S.
Proximity to major Cities is a huge factor in
determining the price you will pay for your
property. Generally speaking, any home within 30
miles of a major city center, will cost
more than a home within 50 miles or farther.
Depending on your needs to commute, choose a home
that is equal distance to both work and play. Find
a happy median that will keep you from the "Daily
Grind", yet give you ample recreational
opportunities.
When
buying a used home, always beware of hidden reasons
why a seller is selling. The question,"why are you
selling?" is never a good way to find out the
"real" reason. Instead, look for clues, like stains
and cracking. A constant roof leak in nearly
impossible to disguise. And cracks in a driveway
may be a tell-tale sign of larger foundation
cracking. Ultimately, this can lead to other
problems like infestation.
Now,
onto the final question to ask as a buyer: "What
should I offer?" To answer that question you must
first answer another question:"How much do I really
want this property?" If your answer is:
Alot, then, offer to pay the List Price. If
it is: Kinda, then offer 20% less than
asking price. Then, wait for one week. Within that
time, the seller's broker will negotiate with your
Real Estate agent a common ground. After that,
Earnest Money can be applied to the offer.
20% is always a good discount amount in today's
economy, because it is usually the MarkUp or
MarkDown value of any high priced
purchase.
So
as you look for your new home, always use the
advice of the experts in finding that home. Your
Realtor is a professional. And they have as much
interest in finding what you want as you do.
Afterall, this is their frontier. They have the
tools to do the job of refining the selection
process. StateRealEstate.com is another tool in
which you and your realtor have found each
other.
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