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Jennifer@Srock.net
By Jennifer Srock
Building a new home is exciting. There are many things to consider within the planning stage so there are less regret and costs to retrofit after the home has been completed. I created this list of upgrades and inspections according to building with the “Big Box” builders. Custom home construction is much more elaborate and not referenced in this post.
I always recommend using a realtor when working with a new home builder. Yes, there are sales people in the builder’s office to help you but, they are not allowed to represent you. They only represent the builder. They do not charge extra and you do not lose incentives if you have a realtor. Nothing changes for you other than you have a licensed representative on your side at the cost that is already built in to the price. You pay for it either way so, why not?
Upgrades and inspections are what I’ll be addressing in this article. First of all, you’ll want to know which upgrades may be best left to the builder and which you may be able to save on by leaving it for a future date. [Read more…]
A foreclosure, also known as an REO or Real Estate Owned by a lender, has been acquired by a lending institution through the foreclosure process. The buyer will present their offer to the seller who is whichever lending institution owns the property.
When purchasing a home, you will need to acquire homeowners insurance. In fact, all lenders will require a policy be in place prior to funding the loan. Make sure you have enough coverage. Policies refer to “replacement costs” that may not cover everything.
The Federal Housing Administration, FHA, requires homes to be livable upon purchase. Strict inspection requirements are given to FHA approved appraisers to not only come up with a market value but to identify any potential heath or safety hazards.
