The new construction home-buying process differs from the buying process for an existing home. While many of the steps are similar, new construction homes come with more specific requirements. Here is a basic step-by-step guide to the buying process for a new construction home: Create a budget With new construction homes, you have to account…
Tag Archives: Homebuyer
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What is Common-Interest Housing?
Common-interest housing includes individually owned spaces and common areas shared by all owners. The common areas can include clubhouses, landscaping, parking lots or pools. Multistory buildings share lobbies, stairwells and elevators. Any community that shares property, including single-family free-standing homes in developments, falls into the common-interest category. The two most familiar types of common-interest housing…
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How to Plan Your Expenses for Your First Home
Buying your first home can be an exciting process, but with so many different expenses to account and plan for, it can also be overwhelming. Not sure where to begin with it comes to saving for your first home? There are a few expenses you won’t want to overlook. Down Payment First, make sure you…
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Legal Reasons to Back Out of a Real Estate Purchase Contract
Photo by Gerd Altmann via Pixabay Once you sign a purchase agreement, whether you are the buyer or seller, it is very difficult to back out of it. However, as a buyer, you are able to back out if your real estate agent drafts the contract properly. Real estate agents use a standard contract. That…