Naples Fl Real Estate & Homes For Sale

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Naples Home Buyers

Buying a home is one of the most important decisions in our lives.  There are some tips when buying a home in Naples, Florida.   Here are the top ten tips:

1. Don't buy if you plan on moving again quickly.

If you can't commit to remaining in one place for at least a few years, then
owning is probably not for you, at least not yet. With the transaction costs of
buying and selling a home, you may end up losing money if you sell any sooner -
even in a rising market. When prices are falling, it's an even worse
proposition.

2. Start by cleaning up your credit.

 A few months before you start house hunting, get copies of your credit report.Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible.  Make sure the facts are
correct, and fix any problems you discover.

3. Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about
two-and-one-half times your annual salary. But you'll do better to use one of
many calculators available online to get a better handle on how your income,
debts, and expenses affect what you can afford.

4. If you can't put down the usual 20 percent, you may still qualify for a
loan.

There are a variety of public and private lenders who, if you qualify, offer
low-interest mortgages that require a small down payment.

5. Buy in a district with good schools.

In most areas, this advice applies even if you don't have school-age
children. Reason: When it comes time to sell, you'll learn that strong school
districts are a top priority for many home buyers, thus helping to boost
property values.

6. Get professional help.

Even though the Internet gives buyers unprecedented access to home listings,
most new buyers (and many more experienced ones) are better off using a
professional agent. Look for an exclusive buyer agent, if possible, who will
have your interests at heart and can help you with strategies during the bidding
process.

7. Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional
points -- a portion of the interest that you pay at closing -- in exchange for a
lower interest rate. If you stay in the house for a long time -- say three to
five years or more -- it's usually a better deal to take the points. The lower
interest rate will save you more in the long run.

8. Before house hunting, get pre-approved.

Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

9. Do your homework before bidding.

Your opening bid should be based on the sales trend of similar homes in the
neighborhood. So before making it, consider sales of similar homes in the last
three months. If homes have recently sold at 5 percent less than the asking
price, you should make a bid that's about eight to 10 percent lower than what
the seller is asking.

10. Hire a home inspector.

Sure, your lender will require a home appraisal anyway. But that's just the
bank's way of determining whether the house is worth the price you've agreed to
pay. Separately, you should hire your own home inspector, preferably an engineer
with experience in doing home surveys in the area where you are buying. His or
her job will be to point out potential problems that could require costly
repairs down the road.