How to Buy Your First Home :: Process Essays

How to Buy Your First HomeI answered the phone with trepidation. Would I be the one? Did I get it?No, not the new job, drafting jackpot, or the starring role in the next movie blockbuster. The one bedroom, split-level Id mold an offer in for just a few days earlier.A home. I was a single girl on the verge of owning her own home. Hey, chance on me roar.According to the National Association of Realtors, single women represent the fastest-growing segment in the housing market. We subvert 12% more than condominiums than men, and we make up 35% of world-class home buyers. And due to many programs designed to encourage single women and minorities to direct in a new home, the purchasing power of the first-time home buyer is steady rising.As terrifying as the prospect of home-ownership is, particularly for those who view plants as a commitment, there are benefits. Youre building equity instead of paying rent. following payments on your mortgage can be tax deductible. And you could ma ke a passel of money when you finally sell it, particularly if youve had the good sense not to buy near a nuclear waste treatment plant. Some tips from a happy home ownerDeep in your heart of hearts, youve probably everlastingly had an ideal vision of your perfect home. Sprawling lawns, cathedral ceilings, hand-carved banisters. Scratch that, and fall upon on to what you can actually afford.You can usually qualify for a mortgage equaling about two times your annual income, and youll need enough currency for a 5 to 10 percent down payment. Figure in the remainder cost, which include percentage points tacked on to your mortgage (1 - 4% of the total mortgage) by your lender. The lower the points the better. Youll need a property appraisal (about $250) and a survey (about $200), during which strangers tromp done your new pad and determine what shape its in - literally. Appraisers look at the condition of the property and surveyors measure the contents. Youll also need a pest reapp raisal - which unfortunately does not mean the neighbors.Other major closing costs include a prepayment of insurance and real estate taxes into an escrow account. You pay up battlefront and the bank takes care of the bills. Future payments into this account come out of your periodic mortgage payment. Your real estate taxes will vary based on area. make out it to say a sprawling villa in Beverly Hills will cost you more in taxes than say, a sprawling villa in suburban Cleveland.How to Buy Your First Home Process EssaysHow to Buy Your First HomeI answered the phone with trepidation. Would I be the one? Did I get it?No, not the new job, lottery jackpot, or the starring role in the next movie blockbuster. The one bedroom, split-level Id put an offer in for just a few days earlier.A home. I was a single girl on the verge of owning her own home. Hey, hear me roar.According to the National Association of Realtors, single women represent the fastest-growing segment in the housing mark et. We buy 12% more condominiums than men, and we make up 35% of first home buyers. And due to many programs designed to encourage single women and minorities to invest in a new home, the purchasing power of the first-time home buyer is steadily rising.As terrifying as the prospect of home-ownership is, particularly for those who view plants as a commitment, there are benefits. Youre building equity instead of paying rent. Interest payments on your mortgage can be tax deductible. And you could make a passel of money when you finally sell it, particularly if youve had the good sense not to buy near a nuclear waste treatment plant. Some tips from a happy home ownerDeep in your heart of hearts, youve probably always had an ideal vision of your perfect home. Sprawling lawns, cathedral ceilings, hand-carved banisters. Scratch that, and move on to what you can actually afford.You can usually qualify for a mortgage equaling about two times your annual income, and youll need enough cash for a 5 to 10 percent down payment. Figure in the closing costs, which include percentage points tacked on to your mortgage (1 - 4% of the total mortgage) by your lender. The lower the points the better. Youll need a property appraisal (about $250) and a survey (about $200), during which strangers tromp through your new pad and determine what shape its in - literally. Appraisers look at the condition of the property and surveyors measure the contents. Youll also need a pest inspection - which unfortunately does not mean the neighbors.Other major closing costs include a prepayment of insurance and real estate taxes into an escrow account. You pay up front and the bank takes care of the bills. Future payments into this account come out of your monthly mortgage payment. Your real estate taxes will vary based on area. Suffice it to say a sprawling villa in Beverly Hills will cost you more in taxes than say, a sprawling villa in suburban Cleveland.