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Today's market is ripe with opportunities for first-time homebuyers. Shopping for and purchasing your first home is an exciting time but before you begin looking, make sure you're completely prepared and know what to expect. The following steps will help get you ready to make that big purchase. Step 1: Freshen up your Finances. Before you dive into the exciting part of home-buying-the search!-make sure you have all your ducks in a row. Figuring out your finances and crunching some numbers will allow you to set a realistic budget. Step 2: Secure a loan. After you get your finances in order, talk to lenders and mortgage brokers. It's important to shop around to get the lowest interest and overall best deal possible. Make sure you understand all of the fees involved before diving into anything. Step 3: Map out your criteria. Now that you have your finances figured out and a loan set up, it's time to begin your search-from home! With a plethora of online home-buying tools at your finger...
Most homes, both new and old, have a few problem areas. However, according to Michael Litzner, Broker of Century 21 American Homes, there are frequent flaws that every buyer and seller should check for before making an offer or putting a home on the market. Wood Rotted wood is one of the most frequently occurring maintenance issues, says Litzner. The flooring and walls in places like kitchens and bathrooms are often exposed to moisture, and over time this can lead to rot. Buyers should also check basements and garages for rot, as well as the exterior of a house including any decks, overhangs or eaves, Litzner suggests. Water and Drainage Water damage is one of the most expensive problems a homeowner can be faced with, Litzner states. Water intrusion in basements and garages can create a rotting foundation, which is pricey to repair, and mold, which is difficult to get rid of. "Be sure the foundation of your home is properly graded for maximum drain...
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