Today it is important to understand what you to know about Buying or Selling a Home and Why? Because buying or selling a home your home could be your most valuable asset as well as your largest single monthly expense.  This article is a guideline that will provide you valuable resources to help you manage the process easy.

When buying, in :
 Estimate your mortgage principal and payments
 Consider other housing expenses, such as taxes and homeowners insurance
 The budget for secondary
  • Commuting can add up, especially for longer trips.
  • Any home needs maintenance. Painting, roofing and masonry may only be required every few years, but when necessary, these jobs may cost thousands of dollars. Appliances and heating and cooling systems likewise require both periodic repairs and occasional replacements.
  • A renovation is a much bigger effort than maintenance. If you think you’ll really an updated kitchen or a new bathroom, budget immediately for it or increase your mortgage amount enough to cover it.
  • Some properties may have fees for optional recreational resources such as golf courses, clubs or skiing. If you intend to use any optional resources, you should budget for them.

When selling, in :

Know all of the elements of your bottom line

  • Determine payoff amounts for all loans tied to your property:
  • Primary mortgage
  • Secondary mortgages
  • Home equity lines of credit (HELOCs)
  • Identify any liens for items such as unpaid taxes, mechanic’s liens, and unsatisfied judgments.
  • Estimate transaction-related costs such as commissions and fees, legal and advisory fees and the costs of preparing the property for sale.
 Evaluate market conditions in your area
  • Determine whether you might be in a seller’s market or a buyer’s market. Indicators include a rising (or falling) of listings in your area, how quickly an average home stays on the market before it is sold and whether the average house is selling at a significant discount from its listing price.
  • Evaluate the of nearby activity. Among the that could have an are new industrial parks, shopping malls, schools, and hospital or medical facilities. Keep in mind that new facilities could attract some potential buyers while deterring .
  • Consider the potential effects of nearby mass transit and highway construction .
 Research your home’s current value
  • See what nearby homes have sold for in recent months. You should focus on those most similar in size and quality to yours.
  • Look for homes that have similar amounts of interior space and yard space, with a similar of bedrooms, bathrooms, and fireplaces.
  • Consider factors that could affect a home’s market potential, such as a property designation, central air conditioning, lawn sprinklers, swimming pools, connections to public water supply and sewer service, outbuildings such as sheds and barns, and proximity to parks, schools, recreational facilities and conservation . Also potentially adding value are energy-saving heating and cooling systems, water conservation systems and solar panels.
  • Comparison shop to see the homes that might be with yours for potential buyers’ attention.