What to consider when buying a home?

WHAT TO CONSIDER WHEN BUYING A HOME When you make the decision to buy a home, there are a number of things you need to keep in mind. If you want to proceed with your home buying process in US, then here are things to consider first: HOME BUYERS STATISTICS USA 2013 60% 40% 11% 60% of homes sold in starting of year 2013 in USA's popular cities A survey says more than 40% of all housing trans- actions annually every There is a 9% expected Only 11% of all US homes overall increase in home are presently vacant sales for 2013 year in USA Last year, most expensive purchase in California was an 8.930-square-foot US commercial real estate is worth approximately $5,000,000,000,000 home which is sold for $117,500,000 SINGLE FAMILY HOME PRICE CITY WISE IN USA 400 NEW YORK $401,500 BOSTON, MA 300 $375,700 LOS ANGELES SEATTLE $350,100 $308,650 200 MIAMI CHICAGO $308,650 HOUSTON $308,650 KANSAS CITY $308,650 100 $308,650 CURRENT HOME OWNERSHIP IN US 2% others o 8% unmarried couples 0 9% are single men O 16% are single women O 65% of all buyers are married couples STEPS TO BUYING A HOME Do not purchase the most expensive home Try to buy in the best school district Try to stick to three or more bedroom properties This is true even if you do not have kids and have no intention Try to purchase near the low end and upgrade. This will help you realize appreciation on your property and grab a nice slice of profit when selling. of every having them. Remember, potential buyers of your property may very well have children and they will be looking in areas with good Yes, that two bedroom is cute, but most buyers are looking for something bigger. Again, we come back to the issue of kids. schools. Go ahead and buy! Priority to buy a newer home Location, location, location Property prices fluctuate a bit, but property is always a good investment over time. Don't The older a home, the more As if you did not know this one. It is the oldest cliche in real potential buyer's will be suspi- cious there is something wrong with the property. The only real exception to this is an older home that is unique or has been extensively remodeled. estate, but also the most accurate. Never, ever buy in a bad location. Always buy in the best location you can possible spend endless amounts of time waiting for the market to drop to some price level you have in mind. It may not. afford. Created by: Sources: www.wikipedia.org http://www.forbes.com http://www.census.gov/ http://www.realtor.org/ http://ezinearticles.com RENTAL CHOICE http://rentalchoice.com