5 questions to consider when buying Arizona real estate

Arizona real estateEven though you think you have found the home of your dreams, it's important to look at the overall picture and affirm you haven't overlooked something that could be a costly pitfall. When buying Arizona real estate, here are 5 questions you should ask yourself before buying a new home:1. Do I qualify for the loan? Many new homeowners will fall head over heels for a home, and then discover they don't qualify for the loan to buy. Before looking at Arizona real estate, talk with a loan officer FIRST and find out how much you are expected to bring as the down payment, the amount needed for closing costs and what type of home you are qualified to buy. (for example, some lenders won't give out loans for certain manufactured homes) Knowing how much you qualify for from the get-go allows you to focus on homes in your price range and it makes you more appealing to the seller.2. Is this the right neighborhood for me? Evaluating certain neighborhoods before lookin
g at Arizona real estate is essential in the home buying process. Examining in-depth neighborhood profiles can be done online or by an experienced Arizona realtor. Factors to consider are property taxes, commute time for work and school, culture, crime rates and the amount of foreclosures in the community. It won't matter how much you love a home, if the neighborhood doesn't meet your quality of life expectations.3. Can I really afford this home? You may be qualified for the loan and can pay the mortgage, but there are other expenses that sometimes first-time homeowners fail to consider. Details you should scrutinize include: the cost of property taxes, estimate of monthly utilities, homeowners insurance and any dues such as condo or homeowner association dues. Failure to account for additional expenses can break the bank if you don't plan for them.4. Will my furniture fit? There is nothing worse than moving into your "dream home" and then discovering that your bed won't fit
in the bedroom, or your living room will now be overcrowded with furniture. When looking at Arizona homes, always measure the dimensions of each room. Comparing square footage and visualizing how your furnishings will look in a space may keep you from spending money on new furniture that wasn't in the budget. 5. Are there any costly problems with the home? It's extremely important for homeowners to have a home inspection before the close of the sale. Many homeowners let emotions override sensibility and miss infrastructure problems that can cause potential heartache in the long run. If the inspector finds issues such as poor wiring, weak foundation, mold or termite damage, negotiate with the seller to see if they will fix the problems. If not, it's probably wise to say goodbye and keep looking.

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