Denver, CO (PRWEB) September 20, 2013
For millions of home buyers, owning a home is the American dream. Each year this comes true for many, however, it's important for new home buyers and those who have purchased a home in the past, to understand the importance of finding the right home. Home buyers, especially those who may be buying their first home, must be careful and not get caught up in the moment.
iBuyHouses.com has just released a few tips that will help home buyers make better decisions when purchasing a new home for themselves.
Tip #1 - Home buyers should buy a home they can afford. All too often we see new and seasoned homebuyers bite off more than they can chew. A lot of times ending bad, hurting credit and forced to downgrade after all. How many square feet does a family need after all? Many home buyers get caught up with the "keep up with the Jones" fever.
Homeowners need to be smart and not put themselves in desperate situations. Over leveraging oneself is what we saw happen over the last few years and many homeowners were not able to keep up with their mortgage payments which resulted in millions of foreclosures across the country.
According to Corelogic, who tracks foreclosure data, since the financial crisis began in September 2008, Approximately 4.4 million foreclosures have been completed. They approximate another 1 million still in some stage of the foreclosure process.
Melissa, a spokesperson for iBuyHouses.com, says, "It's unfortunate that so many homeowners lost their homes. Too many of them were over-extended with houses over-leveraged that couldn't sell. That's one of the things we've excelled at is helping homeowners sell their homes with iBuyHouses.com."
Tip #2 - Lock in interest rate - Never in history have we ever seen interest rates this low for such a long period time. Interest rates will eventually go up. So now is the time for home buyers to lock in those extremely low interest rates before they start climbing back to normal.
Tip #3 - Good Location and Condition- It's important when buying a new home that it meets the needs of the new home buyers. It's equally important to buy a home in the right location. Be mindful of things that will turn away future buyers from purchasing the home. Is it close to railroad crossings, close to the highway or busy intersection, are there any unpleasant smells, or hazardous wastes nearby.
Make sure it's safe to go out at night and the property is not located in a war zone. Be watchful of flood zones and mud slides that could really damage a property. Don't forget about mesquites either. If the price of a property is unusually low, it's always a good idea to ask why?
For more tips on buying a home or sellers looking to sell their home should visit http://ibuyhouses.com for more information.