New Features That Will Help You Buy Your First Home

Home buyers need to know their options when it comes to buying their first home. The average age for new first-time home buyers is just 33, a fairly young age even for these kinds of major life decisions. That being said, purchasing your first home at any age could potentially be a time-consuming and stressful experience. Fortunately, there are some key tips which can help to make the purchase of homeownership a more pleasant experience. Visit this website to get the best experts who offer the best way to sell my house without listing services.

One of the most important tips for prospective home buyers is to remember that your house is an investment. Home prices are currently very low, as many are currently underwater in real estate. Home buyers should be prepared to either walk away from their purchase of a dream house or pay extra for the added value. Foreclosure is on the horizon for many, and unfortunately, the numbers don't look good for future home buyers. Homeowners looking for a bargain should expect to pay extra for certain features like:

* Home improvement - The average home buyer can expect to pay between one and five percent of the home's overall purchase price in closing costs. Most real estate agents agree that a one percent figure is conservative. Of course, this figure includes actual repairs, not hypothetical ones. For instance, fountoulakis says that while a buyer might initially think that adding a pool to a home is a great idea, he or she may want to consider cutting down on expenses for added value. An agent might suggest the buyer consider selling the extra room for spare money rather than buying the whole house.

* Mortgage rate - Most mortgage lenders require potential home buyers to pay between four and five percent in closing costs. In the long term, this means a buyer could be paying as much as ten percent more than he or she would if they bought a conventional property. While most mortgage lenders offer a standard refinance program, these rates can vary depending on the current status of the real estate market.

* Closet Space - Many home buyers are interested in adding extra closets to their home. This can be done relatively easily by finding a good real estate agent who specializes in custom closets. He or she will know which closets work best and which ones don't. He or she will also know which new features will work best as well. The direct house buyers with cash will have the latest information about current mortgage rates and home features that will influence mortgage rates.

* New Kitchen - In the 1970's, real estate agent Samuelson said that the kitchen was the first building block in getting a house. Today, that building block has become much bigger, as builders use kitchen space to get ideas for their new designs. Today, a typical kitchen in a new home is smaller than a traditional kitchen, but it is no less impressive. If a new kitchen is one of your goals, make sure to take a tour of a potential home before making a purchase. If you're planning on using the existing kitchen as an upgrade, you should also think about the other rooms in your house: how each of your rooms looks from the kitchen and what changes might need to be made to the way you cook and eat. For further details about this topic, visit this site: