All Entries For Homebuyer Tips
Who knew that once our contract was accepted, the stress would really start? I thought the hard part was finding the house! That joke was on me. There are so many more steps to buying your home after you find it.
The next step in my home purchase was to make sure the house was in good shape. My agent set up to have an inspector meet me at the house yesterday and look over every inch of it. When I arrived, he was up on the roof. He checked every window, the siding, the deck, the gas meter, the air conditioner units–and that was just outside. Once inside, he looked in places I would have never thought. He ran the whirlpool tub, the dishwasher, tested every faucet, showers, and the washer & dryer. He checked the outlets, walls, flooring, light fixtures. I must admit, I felt much better having a professional look over the house.
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Well, after months of searching, we made an offer on our first home this past Saturday. We definitely offered very low, but figured with a market like today’s, let’s give it a shot. The house had been on the market for over a year, and the seller had slowly lowered the price. We ended up getting the home for $90,000 off the original list price, so feel we are getting a great value for our money! In the contract, the seller agreed to leave all appliances and window treatments. Also, they will be paying $5,000 in closing costs and up to $2,000 in FHA needed repairs. It took about 3 rounds of offers, but we are officially under contract! Read More→
Although Congress has addressed the possibility of reauthorizing the First Time homebuyer Tax Credit, it is not certain that anything will be done before prior to its expiration on December 1, 2009. This gives potential homebuyers approximately 4 months to choose the perfect home and close by November 30, 2009. Otherwise, the $8,000 tax credit may not apply.
Do you still have questions about the Federal Tax Credit? The Atlanta Board of Realtors offer a free brochure full of information regarding the $8,000 homebuyer tax credit details published by the National Association of REALTORS®. Click here for a printable PDF.
One thing that I have had to keep in mind while house hunting is the cost of a homeowners association (or HOA). Luckily, the majority of the neighborhoods I have look in have an HOA, but do not have too high annual dues.
I feel that having a homeowners association is important. A lot of times, the HOA fees will cover amenities such as a pool, tennis courts, sidewalks, playground, etc. But always, HOA dues will cover the upkeep of the front of the neighborhood (the entrance sign, plus cutting the grass, planting flowers–keeping it looking nice).
Well, it has been a few weeks since I’ve given a househunting update. Weekly, I have been going out with our realtor, Bruce, looking for the perfect home. I have found that I am not going to get everything that I want, in the area that I want, at a price I can afford. I am not willing to go any further out of the city than Cobb County (and even some parts of Cobb are too far). I think that it is common for first time homebuyers to have high expectations, and then be a bit disappointed.
Historic Westside Village Homebuyer Seminar
This coming Saturday, August 8, 2009, Historic Westside Village is hosting a free homebuyer seminar. From 10 am – 12 pm, anyone interested in learning about Down Payment Assistance Programs available and on how to receive up to $75,000 off the purchase of your new home can attend this event free of charge. SunTrust Mortgage and The Atlanta Development Authority will be set up within the Atlanta condo community of Historic Westside Village to provide this information along with information on $8,000 first-time home buyer’s tax credit. Read More→
