Buying a home in the USA

Home ownership has always been a dream for every human being around the world. This need usually appears when a young man or woman, leave their home to start a new life. Their first move is usually into a rental property where they can start tasting the cost of freedom. A usual rent for most rental properties is anywhere between five hundred to two thousand dollars a month. There are always fancy areas and top of the line condos that can cost even $5000 per month but most youngsters cannot afford them.

So, the savings begin. It helps when you are young, and have no family to take care of, to save a substantial amount over time. The pressure starts building up when young couples get married and have kids. Then, the small rental seem smaller and smaller and the cost to take care of a family grows higher and higher. Eventually, the couple has enough money for a down payment and the search for a house begins.

A great way to make sure that you will be happy with the house you are about to purchase is to rent around the neighborhood. Many couples spend all their money trying to afford an expensive neighborhood, only to find out that they hate it. You can rent for one school year and spend that time looking for the right property. If you and your spouse end up being disappointed with the area, then you are free to leave and try a new neighborhood. Renting and Being patient is the best investment you can make.

Getting familiar with the neighbors and where all the kids actually live, will help you find just the right house. When you do find a few good choices, talk to the neighbors of each individual house. You might find that some neighbors are impossible and living next to them can cause you great harm. For example, if the neighbors have a son that likes drumming all day, you might want to find out before moving there. If you donít find that disturbing, you can still use this fact to your advantage when negotiating the price of the house. The people who are moving might be very aware and irritated and would reduce their price significantly just to get away from their neighbors.

When you are finally done, make sure you have enough time to perform full house inspection. Do not try to save money by having someone swoop briefly through the house. Hire a company with good reputation and a minimum of one million dollars insurance policy, in case they missed something huge and you have to sue them for it. Keep a copy of their insurance with you just in case you find out about it a few months later.

When everything is said and done and your family is finally inside the house unpacking boxes, try to reuse as many things as possible from your previous residence. Just because you were successful in purchasing a house, it doesn't mean you need to stop worrying about how to pay it. Try to pay as much as you can every month. You want to try and reduce the principle as much as possible.

Eventually, you will be offered to refinance you home. When that time arrives, make sure you do not extend the time of your mortgage. For example, if you have twenty-five years left, do not extend it to twenty-six. Make sure that your payments are actually being reduced instead of being sold on a more expensive loan.

As time passes, you will eventually finish paying your loan. That sense of accomplishment will allow you to teach your children everything there is to know about doing it for themselves. You will also have a sense of security and the ability to have a roof over your head for the rest of your life.

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