What Buyers Really Need to Know about the Home Buying Process
If you are seriously considering purchasing Candlewood Lake waterfront homes for sale, you need to be aware that there are several myths regarding the home buying process. The housing market has changed dramatically over the past decade and so have many of the rules of home buying. Here are some home buying myths that can lead to big mistakes:
1. There is only one perfect house for you
It’s easy to fall in love with a property during your search for Candlewood waterfront homes. You might also get hooked on the appeal of one dream house. However, it may be wise to look for other homes if the desired property way beyond your budget. You might also need to let it go if the home presents issues such as difficult sellers or inspection problems. Avoid making the mistake of buying a house out of fear that you won’t find another one. Be realistic and you will find that good houses aren’t that rare.
2. The mortgage process is too long and complicated
Getting a mortgage need not be too complicated. With the right resources, obtaining a mortgage and the whole home buying process can be simplified. An experienced loan officer will review the home financing process with you, define terms, and address concerns to help you find the financing option that's right for you. Home lenders also offer a number of online resources like payment calculators, appraisal tools, and a glossary of commonly used mortgage terms to help simplify the home buying process.
3. The three most important factors are location, location, location
Before, finding the perfect home means it had to be in a well-established community with low crime rates, good schools, and far from annoyances like airports or heavily used roads. However, some of the best deals at present may be found in neighborhoods that have yet to reach their peak. The emphasis today is on the future outlook for a location. Before shopping for waterfront homes in Candlewood Lake, keep an eye on a location’s potential for growth.
4. You don’t need a real estate agent
While it is not impossible to manage the home buying process on your own, working with a real estate agent have more advantages. Even without a real estate agent, you will need an attorney to review the paperwork. You also have to consider that agents serve a purpose. They are more experienced that the average home buyer when it comes to negotiations. They can also perform a comparative market analysis, and set up showings, home inspections, and appraisals.
5. Buy the worst home in the best neighborhood
Some people would say that you can fix up a bad home but you can’t clean up a whole neighborhood. However, you need to be extra cautious because bad homes can sometimes come with some serious flaws. Before making a final decision, make sure you have an engineer’s report so that you won’t end up with a bad deal. Some homeowners may not have the skills to the work themselves, nor the money to hire someone to do it for them. In the end, you may end up paying more on that fixer-upper than if you had bought a home in better condition in an up and coming neighborhood.
Check out http://www.CandlewoodLakeHomesforSale.com today to see the latest homes for sale in the area.
