|
|
|
Written by HMDH
|
 The purchase of a home implies lots of time and money, which is why we recommend that you consider several factors so that the home you choose today is also adequate in the future.
- The first factor that determines which home you buy is the amount of money the bank is willing to loan you and the amount of your savings.
- Another factor is the amount that you pay on a monthly basis, keeping in mind that there exist other payments in addition to your mortgage mortgage such as property taxes, home insurance, Homeowners Association fee (if you are buying a condo), and home maintenance and repairs.
- A third factor involves the amount of money you will have in the future. Do you plan to buy another car? Have kids? Send your kids to college? Keep in mind that a person’s income generally increases annually, which means that it will become easier to pay your mortgage.
- The next factor to consider is the location of the house. Make sure that the area fits all your needs:
- Find information about the academic quality (Academic Performance Index, API) of schools in the area. Visit www.cde.ca.gov/ta/ac/ap/
- Go to the local police station and ask for the crime index report to make sure that the neighborhood is safe for your family.
- Calculate the total distance to your work and investigate which highways are around the area.
- Check for public transportation services close to the home.
- Verify any hospitals and medical services around the area.
- Consult neighbors and confirm your commitment to the neighborhood.
- It is also important to find out the value of homes, the rate of home sales, and recent property appraisals of homes in the area.
Other factors to consider
Once you have chosen a desired area, we advise that you determine what type of house you would like to live in. When deciding, it is important to consider certain characteristics such as size, structure, the year it was built, the number of rooms, number of closets and cabinets, yard space for your kids to play in, and parking spots in case your home is located on a high traffic street.
Finally, after reviewing the factors mentioned above, don’t forget that it is important that you live comfortably at home; minor details such as lighting, outdoor noise, and views can make the difference between being a home owner and living in your dream home. |
|
BUYING YOUR HOME 