Today, buying the home of your dreams is easier than ever before. Many people who thought that buying the home they wanted was simply out of their reach are now enjoying a new lifestyle in their very own new home. Buying a home is the smartest financial decision you will ever make. In fact, most American and Canadian home owners would be financially broke at retirement if it weren't for one saving grace - the equity in their home. Furthermore, mortgage rates are more flexible today than ever and tax allowances favor home ownership.
Real estate values have always risen steadily. Of course there are peaks and valleys, but the long term the trend is a consistent increase. This means that every month when you make a mortgage payment the amount that you owe on the home goes down and the value typically increases. This owe-less-worth-more situation is called equity build-up and is the reason you can't afford not to buy. Even if you have little money for a down payment or credit problems, chances are that you can still buy that new home. It just comes down to knowing the right strategies, and working with the right people. See below.
Mistake #2: Not hiring a buyer's agent to represent you.
Buying property is a complex and stressful task. In fact, it is often the biggest single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures and competition from other buyers require buyer agents to perform at an ever-increasing level of professionalism. For many homebuyers, the process turns into a terrible, stressful ordeal. In addition, making the wrong decisions can end up costing you thousands of dollars. It does not have to be this way!
Work with a buyer's agent who has a keen understanding of the real estate business and who is on your side. Buyer's agents have a fiduciary duty to you. That means they are loyal to only you and are obligated to look out for your best interests. Buyer's agents can help you find the best home, the best lender and the best inspector. Best of all, in most cases, the buyer's agent is paid out of the seller's commission, even though he/she works for you. Trying to buy a home without an agent at all is, well... unthinkable.
Mistake #3: Getting a cheap inspection.
Buying a home is probably the most expensive purchase you will ever make. This is no time to shop for a cheap inspection. The cost of a home inspection is very small relative to the home being inspected. The additional cost of hiring a certified inspector is almost insignificant. As a homebuyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages and trying to get the best deals. Do not stop now. Do not let your real estate agent, a home inspector or anyone else talk you into skimping here.
NACHI front-ends its membership requirements and turns down more than 1/2 the inspectors who want to join because they can't fulfill the membership requirements. NACHI certified inspectors perform the best inspections by far. NACHI certified inspectors earn their fees many times over. They do more, they deserve more, and yes they generally charge a little more. Do yourself a favor...and pay a little more for the quality inspection you deserve.
Our house was simply too cold - it was unbearable! The Home Energy Tune-uP provided us with steps to take to make our house warmer in order of importance. After following just a few of the steps, our house is much warmer and all around more livable. Thank you very much!
Just wanted to say thank you again for the thorough and professional pre-purchase inspection you conducted for us Saturday. The report(s) were comprehensive yet easy to navigate and prioritize. The color coding and photography in the report will complete the rest of the notebook you gave us and truly make your company stand out from the others we have dealt with in the past. We so appreciate your knowledge and expertise as we prepare to make the largest investment of our lives! We've sent along some additional money to compensate for literally spending the entire day on us, not only on site, but in expediting our reports to meet a deadline with the sellers. You definitely went above and beyond. We also look forward to using the freebies you included with the inspection package. Thank you very much again.
Purchasing a new home is both exciting and terrifying. And it’s important to have a skilled, unbiased professional evaluate the home’s details prior to purchase. Kevin Richardson is extremely methodical and conscientious. He is happy to explain the complexities of his process in a calm, easy-to-understand manner. I am happy that I selected Kevin to perform my home inspection and I highly recommend his services.
Kevin was awesome. This is the 3rd time I've been involved in a home inspection, but the 1st time I got this level of service. I would refer him to anyone buying a home!
Excellent, with extreme quality and detailed reporting. From detailed digital photos of the properties issues, to the descriptive report with repair tips! He had both a summary report, and a detailed 50 page report, all accessible from any computer, via my own personal log in and password. This came in handy when I was at my agent's office, and forgot to print a copy prior to getting there. Even my real estate agent who's been in the business for over 20 years, stated she's NEVER seen such quality, would refer him to her future clients! Kevin pointed out key elements, which had a major impact on me purchasing my first home, and gave me firepower to renegotiate with the seller. I got the home for over $13k less, thanks to his reporting, and can honestly say he saved me that $13k, otherwise, I would've had to replace the roof and electrical system myself, not knowing prior to buying. The free home alarm system was an added plus. Thanks again Richardson Home Inspections!!!
We wanted to thank you for your inspection services on our new condo. We were very impressed by the fact that you were willing to spend over 3 hours to do an incredibly thorough inspection. We talked to a number of other inspectors who committed to spending far less time for a lot more money so we feel we benefited from great value for money. We appreciate your willingness to answer all our questions in the level of detail that made us comfortable. We will be happy to pass your name onto our friends.
I want to thank you for the services performed by Richardson Home Inspections. Your thorough examination of the entire property, both inside and out, gave my clients a sense of ease in knowing what issues needed to be addressed in the purchase of their new home. Your services were immaculately detailed but did not frighten my client in any way. I want to thank you for your work, and I look forward to working with you often in the future. I would recommend your services highly to anyone.
Thank you so much for the home inspection you carried out in my home. Your inspection was very thorough and answered some of our questions about how to save money on our energy costs. I also appreciate your patience in answering all of our questions, and the follow up letter you sent with recommendations about contractors who can help us. Thanks again!
I’m writing to thank you for the thorough and professional home inspection and Home Energy Tune up that you performed on my new home in December 2003. Your attention to detail uncovered many items that I had overlooked in important areas of my home, several of which were hazards that had to be addressed immediately. Your report was thorough and easy to understand and has become a “to-do” list that I consult regularly. The home energy tune-up was a valuable service that detected energy-wasteful systems and structures in my home. As we did the walk-through together, you clearly explained each item to me. Your report listed these along with approximate costs to implement changes, cost savings estimates and which changes could be incorporated into a mortgage.
I found your service excellent and would wholeheartedly recommend Richardson Home Inspections to any homeowner, home buyer or potential home buyer.
This main service entrance cable was installed around a brick chimney stack. Notice the black staining on the brick under the cable? Well, over time the sharp corner of the brick started to deteriorate the outer and inner sheathing of the cable leaving it exposed to the elements.
