Avoid These Five Mistakes When Buying Real Estate In Fort Myers
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Posted On :
Apr-14-2011
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Article Word Count :
518
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The article talks about the five most common mistakes that many do when deciding to buy a house in Fort Myers, Florida.
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Purchasing a property is one of the biggest decisions we have to make in our lives, and buying a home in Fort Myers, Florida is no exception to this rule. In order to avoid five of the most common mistakes when buying a home, here is what you should do, or better say not do:
First of all, avoid at all costs buying a house that you cannot afford. You need to figure out your budget by taking into consideration all the extra costs, like interest and closing costs (usually 2-5% of the home cost). In addition, make sure that you factorize your monthly living expenses, like car payments, credit card payments, groceries, dinning out, etc. A general rule in this situation says that your monthly debt (including mortgage) should not exceed 36% of your total income.
Second of all, never buy at first sight. Why? Because at the moment there are plenty of properties that you can choose from and we are certain that if you do a proper research, you will be able to find exactly what you want within your budget. Never rush in such a situation, take your time, visit the houses that you like a few times, check out the traffic in the neighborhood, etc. In addition, check out the local schools even though if you d not have children. The reason for this is because the reputation of the local schools will have a significant impact on the resale value of your property.
Third of all, going on your own to buy a home is a big mistake. It would be wiser to rely on a professional to ease your process. This is definitely not the place or the time to get cheap and avoid paying professional fees. You’ll be paying more now, but in the long run; you’ll be saving a lot of money. Talk to your friends, neighbors, and work colleges regarding a good real estate agent, a lawyer, inspectors, mortgage brokers and other similar professionals.
Never go by “trust me”; even though your best friend in the world tells you that his mortgage broker is a miracle maker. Always check that person thoroughly before making any decisions and don’t be afraid of refusing your friends, colleges, etc.
Lastly, after buying the home, don’t start thinking about what you have done. The chances are that the property that you have bought is exactly what you needed. Of course, there might be a couple of problems with it but it goes with the territory. We recommend that you take a deep breath and forget about it. Enjoy the home and stop thinking about what went wrong or that you’ve paid more than you should have. It will run the excitement of getting a new house for you and your family.
All things considered, buying a home is probably the most important financial decision that you will make in your lifetime. Take things nice and slowly, consult with as many professional as you can, do thorough research of the properties and you’ll get a good deal.
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Article Source :
http://www.articleseen.com/Article_Avoid These Five Mistakes When Buying Real Estate In Fort Myers_59248.aspx
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Author Resource :
Find affordable Ft Myers condos by visiting us at www.fortmyerscondoforsale.com .
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Keywords :
Ft Myers condos for sale, Fort Myers condos for sale, Fort Myers Florida condos for sale, Ft Myers condos,
Category :
Finance
:
Real Estate
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