New House Buying - Tips for Beginners

Moving out of a small house that you used to occupy when there were only two of you might have felt cozy and “just right.” After a few years with a wife and growing kids in your life, new house buying might be the most advisable thing to do. Aside from the cramped size of your present house, location might be one other consideration -- maybe your place now is not very near your place of work, or too far from the hospital in case of emergencies, or there may be better and more reputable schools in the next town for the children. These are just a few of the reasons why you must make that major move. List down these considerations, and make these the criteria for your decision-making -- this will make sure you don’t waste your time looking at houses in areas that don’t fit your listed preferences for a new place. Then, make an organized list of steps to follow in doing this.

First move toward this goal is to check your budget for new house buying. Being an employee all your career life, it is very likely that you were only able to save enough for a down payment; so you have to either make a loan with the bank or you have to find owner financing arrangement for the balance. Being a greenhorn on this matter, you may want to talk to a professional real estate broker to help you decide which is the wisest option; this is so that you will not get enmeshed in a project that will drain your savings through time and leave you and your family penniless and out in the streets, and still without a home you could be proud of to call your very own.

There is a formula for computing your capacity to buy a new house at your present income, and a real estate broker could help you do this for a small fee. You may also do it for free if you have a computer and internet access within your reach; using a search engine, find a pro forma for this sort of computation. You simply have to fill out the blanks and the bottom-line figure will be computed for you automatically. Make certain that at least 10% savings and some funds for contingencies are included in that formula before you decide that it is a realistic figure you’d get.

When you go new house buying, work within your bottom-line figure, do not leave out the option for owner financing -- this is usually more considerate payment scheme for someone with a tight budget.

Brian Shelton makes home buying in the Dallas easy! Visit http://www.StopRentingDFW.com/

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Home Owning - A Major Move

If you are one of those perennial renters who are now thinking of making that major move of home owning, there are pitfalls you would want to watch out for that are not very obvious to the naked eye. For this, it is wise to consult the experts in this uncharted field to help you in your decisions. Find yourself a good real estate broker who’d be sympathetic to your financial condition and would help you thresh out what sort of a house is locally available to you that you is within the reach of your budget.

A good real estate broker is useful for helping you make wise decisions in home owning on a limited budget. He would be one who would walk you through the entire, seemingly complicated process of the world of real estate and give you a simplified but extensive version of everything so you would be educated, aware and not one to make any foolish misstep that could result to unseen, expensive traps of financial devastation. He will look out for you, that you won’t be drained of all your resources without an eye out for the contingent expenses in favor of this one major move in your and your family’s life. If he is an honest, involved broker, he will even recommend and help you get owner financing.

Your broker would help find the most affordable payment scheme for you, and not advise you to get a hefty bank loan for your purchase if he thinks you would not be able to afford it in the long run and leave you out in the cold when you default in payment. Many mortgage plans have been proven unwise to adopt for such a big project because of unforeseen circumstances, like if you would be out of your present job, for example, that you have not prepared for.

This is why it would be wise for you to involve your family; define to them what each one of you can and cannot do from the time you sign the loan and/or the payment plan until the time the property is fully paid for. Go into details if you need to, to make the younger ones appreciate what “change of lifestyle” means. They should understand that home owning is no joke and it would require some compromises in the lifestyle that your family may have gotten used to. If there are any objections to this major adjustment in lifestyle, or any slight indications that you, your wife or your kids wouldn’t be able to sustain his or her part of the deal, then home owning is not for you -- nip it at the bud before it blossoms.

Brian Shelton makes home buying in the Dallas easy! Visit http://www.StopRentingDFW.com/ Article Source: http://EzineArticles.com/?expert=B_Shelton

Buying Houses for Nothing Down Depends on Your Personality Not Your Money

When I was buying houses, my most important asset was my family. I was young and married with three little children. I would buy houses and fix them up. I would play my favorite songs on the stereo while I worked. I would work long hours and did most of the work, but it was my combined family that charmed potential sellers.

We didn't just buy houses and sell them. We would buy houses fix them up some and then rent them out. Selling them would come later. We found other people that had gone before us. They had bought houses and rented them out. These people recognized the effort that it took to own houses, and they appreciated family support.

I don't know that I ever brought my family along with me as I previewed homes, but I always talked about them and what we did. If people like you and see themselves in your actions, then buying their houses has nothing to do with money.

My wife and I were able to buy houses from several different couples with little down as we purchased houses on Real Estate Contracts. When I say little down, I'm talking about anything from ten dollars to one hundred dollars. Sometimes the first payment would even be several months away, which enabled us to take the house and begin repairs and remodeling. Quite often we would be able to collect two months rent before we ever paid out "real" funds.

All of this was possible because the people liked us AND we established a track record of above board transactions. There are many people out there in the world who try to finagle the best deal to the detriment of the home seller. In the long run that is not a positive approach.

Our story of a loving family and hard workers was a selling point to the people who sold us homes. Even house rentals can take on the status of children. People who own houses tend to feel like mother hens. They want their houses to be given a good home.

Present your story to prospective sellers. Let them know who and what you are. Sincerity is key. Be honest with the sellers. They might have more houses and they might know other people who will sell their properties. If they like you, they will help you. If they don't like you, then you better let your money do the talking.

Don Doman is a published author, video producer, and corporate trainer. He owns the business training site Ideas and Training, which he says is the home of the no-hassle "free preview" for business training videos. Don and his wife Peg at one time owned 33 single family homes, which they purchased, remodeled, and used as income properties before selling them for profit. You can gain from their experiences at Simple Home Repair.

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Buying A House In Spain

If you have been sitting at home watching the TV about owning a property abroad as a holiday home or maybe to live, chances are Spain would have been one of you considerations. It is cheaper to live in Spain than many North European countries and is on par with Florida. Then when you consider that some world authorities have labelled certain parts of Spain as one of the healthiest places to live in the world, there is no doubt why more and more of us are buying property there. However many make decisions before they have visited the area and really understood what it is about to live or invest in another country.

First of all, property is not as cheap as it was, it is still cheaper than probably the house you are living in now, but the unbelievable bargains have pretty much gone. As the developments are growing and growing, getting a property near a beach is also becoming harder unless you are prepared to move where little foreigners are, say in a small village. This sounds romantic, but often the realities of not having a corner shop, or a bar or restaurant to visit without taking the car, can take some of the dream away. If you visit Spain for the first time purely to consider buying a house, you may be surprised how built up it is and unromantic some of the property can be, especially if this has been on an inspection trip. So my first bit of advice is to fly out there first and not on an inspection trip, for no other reason to get to know the area and the culture. In fact once may not be enough. Then only when you know the area, have an idea of what property and prices may be in the area, sign up to an inspection trip, presuming you are buying new of course.

If you are buying a used property, do not do this without advice. For example many in Spain do not get a structural survey on the property, they assume what they see is what they get. I have heard stories of property been bought, just to find out they were originally a barn then converted, which do not have any substantial foundations. You also need to be aware of the controversial “Land Grab” issue in Valencia. Where the local councils have decided to develop the area around a house, the house owner has had to pay the council for this privilege and loose land in the process. Straight away a dream villa is in the middle of a housing estate and paid thousands for the privilege. You will find that most new properties, which are fully developed, should escape this local law, but please check first.

My point is not to put you off Spain, but to fully understand what issues can go wrong by being impulsive. There are however many thousands of ex pats now living in Spain and say it is the best thing they have ever done, and I will be joining them soon. The next question is to ask yourself, do I want to rent this property out to help with the mortgage or only use it exclusively. This can make a big difference about where this property should be. Having your dream property many miles from anywhere will not attract potential clients. The proximity to the airport, the beach and golf courses are all considerations. The aim of renting property out is to have you clients come back again and again, especially if its for the annual golf trip or to visit friends. So to summarise, take your time with any decision, make sure you know the area, make sure you know why you are buying the house and if it is to earn money, consider what a client would want.

Mark is webmaster for European Breakdown Cover also Airport Parking and Mobile Phone Deals

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Austin Real Estate: Buying a Home in the Live Music Capital of America

Thinking of buying real estate in Austin, Texas? If so, sooner would be better than later. Prices in Austin continue to rise, and there’s no sign that they will level off any time soon.

Why is Austin real estate becoming such a hot commodity? Fist, consider the city itself:

Austin, Texas is a great place to buy a home. The weather is relatively mild. There’s plenty of history and culture. A series of highway-improvement projects will soon make commuting a breeze. And, of course, there’s the music -- Austin has been dubbed the "Live Music Capital" of America.

But if you’re thinking of moving to Austin to buy a home -- or if you currently rent in Austin and wish to purchase your first home -- you should move quickly. Prices are rising, and they will likely continue to rise in the foreseeable future.

You can blame it on supply and demand. Sure, a lot of new residential areas are being developed. But the land prices are going up, which means the houses that sit on the land will also increase in price.

On top of that, the influx of new Austinites is outpacing the supply of houses. In a recent article in the Austin Business Journal, John Doyle, director of land acquisitions for KB Homes in Austin, cited the influx factor as a key reason for the steady increase in land prices. Doyle also noted the high volume of Californians flocking to the Austin area.

To find out why so many Californians are moving to Austin, just do the math. Homes are much more affordable in Austin than in most parts of California. A $200,000 home in Round Rock (a suburban city north of Austin) might go for as much as $700,000 in San Diego.

Add in the fact that the climates and cultures are somewhat similar, and you’ve got the makings for a continued immigration of former Californians. The result? Continued increases in land and housing prices.

And that, of course, affects anyone thinking of moving to Austin -- whether they’re coming from San Diego, California or Fargo, North Dakota.

* Copyright 2006, Brandon Cornett. You may republish this article in its entirety, provided you leave the byline, author's note and website hyperlink intact.

About the Author
Brandon Cornett is the editor of HomeBuyingInstitute.com, one of the Internet's largest and most respected libraries of home buying tips. You can learn more about buying a home in Austin by visiting http://www.homebuyinginstitute.com/austin-home-buying.php

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