Important Things to Know Before Buying a Home

Are you going through all those anxiety pangs that one normally gets while mulling over the decision of buying a home? Homebuyers are an anxious lot, eager for useful real estate information. It pays to get yourself acquainted with the steps involved in the purchase of a home.

Here?s a list of important things to know before buying a home.

1. The first step is to find out how much you can afford or qualify for. Check your credit report to know your credit worthiness. Clear up problems if any before going to a lender. A good credit rating will result in you receiving lower interest rates.

2. Get pre-approved for a mortgage from a mortgage broker or lender, with a commitment to fund your mortgage in writing. Look out for frequent payment options and prepayment options, which would help knock off some years from your mortgage. And finally, settle for comfortable monthly payments. Once pre-approved for a loan, you will know your price range to begin shopping for real estate.

3. You should buy the real estate that is right for you. Make a wish list of all the specifications you want in your home. Prioritize them based on your wants and needs. Then mark out those aspects that you are willing to compromise on, in case you need to.

4. Get a good, reputable Real Estate Agent to assist you in locating a property in a desirable location. Your Real Estate Agent will know where to help you look for properties, while keeping your preferences and price range in mind.

5. Once your agent provides you with a list of properties that are affordable, you can drive by to check the neighborhood. Look for a house in a location that has good potential for future appreciation. Consider factors like safety, school districts, freeway access, recreational options, work commute time, shopping facilities etc.

6. Check out a sufficient amount of real estate until you develop a sense of comparative value of each neighborhood. Your real estate agent can help you with the valuation.Visiting the localities at different points in time during the day is ideal. This will help narrow down the list. You might want to check during the morning commute, or after dark to verify that the neighborhood suits you.

7. When you have found a house of your choice, compare its price with other houses in the area. Get your real estate agent to assess the value of the home.If all looks good, write an offer!

8. Lastly, consult your real estate agent to be sure that you obtain any professional inspections necessary to answer any questions you may have about the property.Some concerns may include: the condition of the roof, foundation, walls, plumbing, electrical, windows, etc.Other concerns may be: Is the property in a flood zone, or wildfire area.Is the property subject to Mello-Roos? Are there CC& Rs? Are there any easements on the property, etc.Your professional Real Estate Agent will assist you in answering these and other questions you may have prior to closing escrow on a property.

Posted by Janice Warns on December 13, 2008 at 12:00 AM

About Janice Warns
Janice Warns is affliated with Long & Foster, which is located in Timonium, MD. For further assistance please use the contact information located on the right.

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Local Information for Timonium, MD

Latitude: 39.473273 -- Longitude: -76.626703

ZIP Codes for Cockeysville, Maryland	21030 21031 21065
Area Code for Cockeysville, Maryland	410
Time zone for Cockeysville, Maryland	EST

Other Area Cities: Bel Air, MD White Marsh, MD Baltimore, MD Catonsville, MD Cockeysville, MD Pikesville, MD

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Cockeysville was named after the Cockey family which helped establish the town. Thomas Cockey (1676-1737) settled in Limesone Valley in 1725 at Taylor's Hall (an area now just north of Padonia Road and east of I-83). Joshua Frederick Cockey (1765-1821) built one of the first homes in the area in 1798 and built the first commercial structure (a hotel) in 1810 in what would become the village of Cockeysville. His son, Judge Joshua F. Cockey (1800-1891) lived lifelong in the village and built the train station (what would be part of the Pennsylvania Railroad) and accompanying commercial buildings in the 1830's. Cockeysville was the scene of some Civil War activity. Confederate soldiers pushed into the Baltimore area intending to cut off the city and Washington from the north. On July 10, 1864, Cavalry General Bradley T. Johnson led troops into Cockeysville, destroying telegraph lines and tearing up track along the North Central Railroad. -- Source: Wikipedia.com

Maryland 2000 Census Population Profile Map

	Cockeysville	Maryland	United States
Population	19,388	5,296,486	281,421,906
Median age	33.1	36	35.3
Median age for Male	32.5	34.9	34
Median age for Female	33.8	37	36.5
Households	9,176	1,980,859	105,480,101
Household population	19,259	5,162,430	273,643,273
Average household size	2.1	2.61	2.59
Families	4,447	1,359,318	71,787,347
Average family size	2.87	3.13	3.14
Housing units	9,606	2,145,283	115,904,641
Occupied units	9,176	1,980,859	105,480,101
Vacant units	430	164,424	10,424,540

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Important Things to Know Before Buying a Home

Local Information for Timonium, MD

Latitude: 39.473273 -- Longitude: -76.626703

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