First-Time Homebuyers FAQ
-Friends and family keep telling me to buy a home. What are the benefits from buying a home?
Pride of ownership is the number one reason why people buy homes. Making an investment in your future, appreciation, mortgage interest deductions, property tax deductions and mortgage reduction builds equity. The IRS Publication 530 contains lots of tax information for first time home buyers.
-How should I start my home search?
Most home searches begin on the internet. We recommend that you start searching for the type of property that suits your needs using our advanced Daytona Beach MLS search.
-How much can I afford?
Actually, the first step before shopping for a home is to get pre-approved for a home load before shop with a Realtor. There is nothing more stressful than making an offer on a home that you may not be able to qualify for. When you are pre-approved you give the seller piece of mind that you can afford the property also you become a more attractive and solid buyer. Nobody likes surprises when negotiating a contract.
-Do I need to use a real estate agent?
You should. Buyers do not pay commission and the services are paid by the seller. There is too much money involved in a real estate investment and you don't want to pay more for a house than it's worth. A Port Orange real estate agent can determine whether or not the house is worth the asking price by doing a comparative market analysis.
-Can a Realtor help us with any house listed on the market?
Yes! Some people end up calling multiple agents and try to make appointment. for them to show on various days. Good luck scheduling with 8 busy people. Your own agent can represent you with all properties listed on the MLS. Your agent can make phone calls to arrange showings, get input for you on seller motivation, and provide a market analysis with properties that recently sold in that same neighborhood. In addition, your buyer's agent will keep an eye out for price reductions as well as new listings that are of interest to you as soon as they hit the market. You can see how beneficial it is to work with one good Port Orange Real Estate agent.
-Do I need a home inspection?
Yes, you do. The $150 to $500 professional home inspector's cost is the best money you ever spent. It will give you peace of mind and help you in maintaining and repairing your investment.
-Other frequently asked questions:
Do you want to live in a community with a homeowner's association? Do you prefer a maintenance free community where all the common areas are maintained by the association? What size home suits your family? Is a pool in your own backyard a requirement or would a community pool be your preference? Is a neighborhood in a particular school zone a consideration?