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How To Avoid Rookie Mistakes First-time homebuyers face a steep learning curve. There's much to know, much to learn, and a great potential for "rookie mistakes" -- with potentially costly consequences. What should you check? Here are 10 basic issues to consider.
Rushing into the transaction. Buyers looking for homes in extremely tight markets may feel pressured to make an immediate offer. Instead, it makes sense to become familiar with the local market before making a purchase offer.
Not asking enough questions. First-time homebuyers, by definition,
Mortgage RatesU.S. daily averages as of May 31, 2001:
30 yr. fixed: 6.94%15 yr. fixed: 6.48%1 yr. adj: 5.94%30 yr. jumbo: 7.30%
Get today's rates
simply don't have homebuying experience. It may be uncomfortable to ask questions, but ask anyway. Brokers can't answer unasked queries.
Wondering What Your Home Is Worth?Let me show you.
Myths Create PoorEnergy Choices True or False? Insulating the ceiling will just cause more heat to leak out of the windows. False. Switching to electric room heaters will reduce your energy bill. It depends. When my appliance is turned off, it's off. More and more often that's not the case. Saving energy has triggered a round of myths, half truths and downright incorrect information, but the Home Energy Saver department at the Lawrence Berkeley National Laboratory is out to debunk them. The lab's research has turned up and over turned numerous energy-related myths. In some cases, the basic premise is correct, but the energy savings are much smaller than people realize. In other cases, the myth is based on factors that once may have been true, but have been subsequently resolved through better design, technology and manufacturing, according to the lab's Evan Mills, Ph.D. Here are some of the myths the lab's debunked thus far.
Best Rate Guarantees? Consumers Beware! The sellers say "yes" they love your offer and the packing boxes are ready for your move. You've already been pre-approved by your lender, so now it's time to really start mortgage shopping. You want to find the absolute best rate and terms on the planet, but how can you be sure you're getting the best deal? There are literally hundreds of mortgage lenders and brokers, so can any of them guarantee that you'll get the best rates and terms? Search the Internet and you'll find companies that absolutely guarantee the best deal. Apply with such firms and they will guarantee you that if you find a better deal, they will match it or pay you money if they don't. Hard to beat, right? Maybe. A "guarantee" can be defined as something that assures a particular outcome. If you want a guarantee that you'll get the best rate, then some lenders will provide one. But step back for a moment and think of another industry that has been using a similar marketing technique for years...the automobile trade. You've seen and heard them all. "Come to Bob's Motors and we guarantee we'll beat any deal!" or so the pitch goes. But if you ever try to accomplish that at Bob's Motors you may just find that there really are no two cars exactly alike.
When To Repair AndReplace Appliances How do you know when to repair or replace an aging or broken major appliance? Depends. The age of the old appliance, the price of a new one, hidden costs and new technology are among a host of factors you'll need to consider, according to RepairClinic.com an appliance parts e-commerce site offering do-it-yourself appliance repair information. "Many people throw away appliances because they don't know a repair person they trust. They also fear the repair cost will be so high they'll wish they had just replaced the appliance," says the clinic. RepairClinic.com says the cost of labor comprises 75 percent of the cost of repairing an appliance and many people can troubleshoot and repair appliances themselves with significant savings. "In general, appliances last between 12 and 14 years. However, many appliances last for more than 30 years," according to RepairClinic.com. The clinic suggests considering the following questions to help you decide to replace or repair your appliance.
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Bonnie Fagoh E-mail: email@example.com Web: WWW.TAMPACOASTALHOMES.COM 813-390-7606 Century 21 Beggins Enterprises813-390-76066542 U. S. Hwy. 41 N.Apollo Beach, FL 33572