What Kind Of Home Do You Need?
To keep mortgage payments within their means, most first-time buyers
purchase what is commonly called a "starter home". It is just what
it says - a way of getting started in long-term real estate investment.
To match the home you buy to your pocketbook you have to
realistically assess your needs, determine what you can afford and -
usually - lower your expectations. Begin by deciding on a general
area where you wish to live, you will probably find that there are a
good number of options when it comes to the age and type of home you
might purchase.
New Homes are a good bet because
of their extensive warranties and pristine condition. On the other
hand, you usually won't have mature landscaping - that is something you will
have to plan and work at over a long period of time.
Resale Homes offer a great
combination of affordability and character. Many will include
improvements such as finished basements, decks, patios and mature
landscaping. They may also come with some repairs and upgrading in
the near future.
Townhouse & Condominiums are
obviously suited to particular lifestyles or budgets. Maintenance
is usually taken care of by management and cost can be low. This
type of dwelling usually means sharing common areas such as parking,
hallways and grounds.
Rural Properties offer the
ambience that many of us crave; wooded areas, friendly community and
safe streets. These plusses must be weighed against more limited
services and additional commuting time.
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