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Strolling
down the tree-lined path to Florida home ownership is not always
for the faint of heart. Along the way, road signs with terms
like "points," "escrow," and "PITI"
appear, leading only to more questions.
Loan officers refer you to faceless strangers who will be important
in the decision of how much to lend you. But the only Fannie
Mae you can remember was the girl who sat behind you in
the fourth grade, you don't know anyone named Freddie
Mac, and HUD
was a movie, right?
It can all seem like a maze to the first-time buyer. Even seasoned
veterans who have been involved in more than one property transaction
may become confused when trying to adapt as the housing market
changes over time.
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Here
then, is a short course on surviving a home purchase without
suffering an aneurysm, and maybe having some fun in the process.
It will pay — with less time and fewer frustrations —
to learn all you can before you begin the house-hunting process.
First things first, determine what you can truly afford.
Your wants and needs have to be tailored around the affordability
factor. You also must decide where you would like to live in
Sarasota and the Gulf Coast. This will not always fit into the
affordable index you've come up with. Figure out how much cash
you have to put toward buying — and the subsequent refitting
and rehabilitation — then decide how much time and effort
you are willing to devote in order to make a not-quite-perfect
house into a home you really treasure.
Many homeowners started climbing the housing ladder by first
buying a condominium or starter house and trying to graduate
to a larger home as the family size increased or a combination
of income, interest rates or other social and economic factors
necessitated a move.
However for many, it may no longer pay to play the traditional
game of musical houses every few years. It might be better to
start with a house they can hold onto for a full five to ten
years.
Of course, many young people simply can't afford the stand-alone
house with the third or fourth bedroom and the large family
room. They must progress up the housing ladder as their incomes
merit.
Others, who could well afford a family-style house in the present,
delay such a purchase until their requirements demand it.
Once you know how much house you can afford, it's time
to decide how you want to spread those dollars.
Buyers should make a checklist of what they want, including;
location, number of bedrooms and baths, square footage, proximity
to schools, public transportation or other frequent destinations
— then prioritize the list. Also, buyers should consider
whether they are willing to renovate and if so, how much work
they want to put in it.
Some people like to be in the "thick" of the community,
close to activities such as shopping, dining and social centers.
Others like to avoid the hustle and bustle and prefer the
quiet solitude of country living.
Before
you start looking it's a good idea to know what's going to
make you happy with your new purchase, keeping in mind the
old cliche of the three most important aspects of real estate:
location, location, location!
If
you have a young family with children you should consider
what amenities would be attractive to you as a buyer. Some
of these may include the location and nearness of schools
and church. Others may be whether parks or beaches are close
by. And how about the neighborhood? Is it"kid friendly"
or is there heavy traffic?
Older
citizens may want a retirement property, which is easily walked,
with close proximity to shopping and dining. Perhaps parks
are an important factor as well. Noise factor may be important
as well and don't forget the view!
Some
people are avid gardeners and prefer the land aspect over
the availability of shopping or entertainment. While the solitude
of country living is appealing, one should consider the transportation
involved and whether this is suitable for your particular
lifestyle.
Not sure of where your particular lifestyle fits into the
communities of Sarasota and the Gulf Coast? Then take advantage
of Sunshine and Sandcastle's exclusive 
our FREE online profile that matches your lifestyle to Florida's
ideal Gulf Coast community.
The
location of your investment may be perfect for you at present,
however, if you're looking at resale value remember: location,
location, and location!
Having
decided on some basic criteria concerning location and affordability,
it's time to engage Sunshine and Sandcastles to lead you down
the unpaved road to home ownership.
As we all know, a home purchase for most people is the single
largest financial investment of their lives. As the price of
homes in Sarasota and on the Gulf Coast continue to edge upward,
buying a home takes on an even greater significance. Do you
prefer your real estate sales associate to hold your hand every
step of your real estate transaction or stay in the backround
while you forage ahead secure in the knowledge that they are
just phone call or email
away? At Sunshine and Sandcastles we custom-tailor our services
to f our customers unique needs. Experience
our superior, caring real estate services - you'll never
buy real estate any other way!
With
your basic home criteria as the guideline it's time to get started
on locating your new castle! Sunshine and Sandcastles uses five
ways to find your new home - no
two homes are alike, why should the ways to find them be? Once
we find listings that fit your criteria the househunting begins!
How
many homes should you see
to have a good grasp of values?
One
of the dilemmas facing a prospective buyer involves the number
of homes that should be seen before making a final buying decision.
Some people are not content until they have seen every home
on the market in their price range. When you are in the market
for a new home you need to determine what factors are most appealing
to you.
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How do you know when you have seen enough homes in order to
make an offer on a certain home with the confidence that it
is the right one for you?
It is difficult to make an informed buying decision until you
have had the opportunity to view various homes and compare their
prices. Home showings also help educate you as to the buying
power you possess for the area you want. It is sometimes sobering
to learn that you cannot buy as much home as you originally
thought. After seeing a number of homes, it is not unusual for
buyers to adjust their expectations of the home size and features
they can afford. You may have to settle for a lesser home than
you thought in order to get the location that is most desirable
to you.
Have
you found the home that "feels right?"
You
will know when you have found the home that is right for you.
This often happens when you drive up in front of the house or
when you are just inside the front door. The right home not
only has most of the features you want but it also appeals to
you emotionally. No one else can tell you that a certain home
is right for you. You usually have to sense it for yourself.
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If you have a good grasp of local home values and have found a
home that feels like the right home for you, don't look further.
You really don't need to see every house ever built. As a matter
of fact, too many home showings could confuse you. It is also
not unusual to find the right home after only two or three showings.
There is no magic formula. Every buyer and each situation is different.
Just rely on your own common sense.
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Choosing a Neighborhood Are
Fixer Uppers for Me?
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Real Estate Glossary How
to Read a MLS Sheet
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©
2005 Waterford Real Estate Services, Inc. All Rights Reserved.
Prices and features subject to change without notice. Offer void where prohibited
by law.
Broker cooperation welcomed. All dimensions are approximate. All information
deemed reliable but not guaranteed.
Prospective purchasers should verify the information to their own satisfaction.
An Equal Housing Opportunity.
Obtain
the property report required by federal law and read it before signing anything.
No federal
agency hasjudged the merits or value,if any, of this property. Not an offer
in any jurisdiction
where prior registration is required. Prices, photos, renderings, site maps
and planned amenities
subject to change. Use of somerecreational amenities subject to membership and/or
other requirements.
©
2004 - 2007 Sunshine and SandCastles. All Rights Reserved.
No part of this website may be reproduced or transmitted
in any way or by any means without written
permission & consent from the websites owner.
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