Saturday, July 7, 2012
Purchasing a house is a major event the lives of most people. A home buyer checklist provides the new homeowner with a guideline to follow. Before you actually move into the house, there are several factors that you should be aware of and knowledgeable about.
The process of securing a mortgage involves a series of steps that you should be aware of. It can be very helpful to understand what happens during each step. Its also advisable to know the terms that may be used. As long as you know some of the basics the entire process will not be so overwhelming.
A good home inspection is recommended when purchasing a house. It allows you to aware of any defects that are present. An inspector will point out things that may not be visible. When you make the contract contingent on an inspection, it give you the opportunity to cancel the contract or have the defects taken care of before you move it. It really protects your purchase.
It is always advised to know what you can afford before you purchase. If you prepare a budget that includes extras such as utilities, insurance, landscaping and other costs you will know just what you are in for. Being prepared is half the battle.
The homeowner is responsible for purchase insurance and is a normal requirement by all mortgage companies. There are several types of insurance involved in home ownership. Casualty insurance protects from structural damage due to wind, fire and hail. Liability insurance is necessary in case a guest get injured on the property. Contents of the inside of the house is covered by property insurance.
Once you have possession of the key, you will want to walk through the house to make sure everything is a promised. Check that all items written into the contract are still left such as appliances or drapes. It is a chance to make sure there are no surprises when you move in.
The final item on the checklist is to decide on the actual plans for moving. If you are going to move items yourself you want to make sure you have a truck available. If you are using a moving company, you will want to schedule a date. Try to stay organized when packing boxes and keep each room together with the box marked. If it's a distant move, it's even more important to plan ahead so that you are ready when the truck arrives. For example, relocating from homes in Salt Lake City to a home in Lehi isn't too big of a deal because the 2 locations are within a short distance from each other. But, if you are planning to move out of state, then it is a whole different story.
Purchasing a house is definitely a huge undertaking whether its your first home or a fourth one. Anything you can do to help things move smoothly will be a benefit to the process. A home buyer checklist will give you the help you need so the process moves along correctly and without snags.