We haven't even begun searching for a home, so it's a way off. I have random questions because we don't know anything.
First of all, can anybody lead me to a website or something to teach basics of home buying and what to look for/stay away from?
What is this taxes with STAR thing?
What is diamond? I see it describing homes like I'm supposed to know what it means. (Just like couture when I started looking at bridal gowns. No clue what that meant either at the beginning.)
TIA!!!!!!!
I'm sure I'll be adding more questions.
cindyandkevin
Posted:
Member since
Re: Home buying newbie has questions
I know exactly how you feel, not too long ago I too was a house-buying newbie!!! It really isn't as scary as it seems, just take it one step at a time (like anything else major in life). I recommend getting a real estate agent who can kinda hold your hand and walk you through this whole process, you're paying them so they have to answer every single one of your 1,000,000 questions!!
I don't know of any website as far as what to look for but I will recommend MLSLI. That will probably be your best starting place for finding a RE agent, finding homes you're interested in looking at, and learning about the area (taxes, crime, etc.).
The STAR program lowers your monthly taxes but you can't start that right away. We're in the middle of buying our first home (close in 2 weeks!) and we have to pay our true taxes for a year first (I think) and then we can apply for the STAR program where the taxes should go down. You can talk to a mortgage broker about the STAR program, they'd be able to help you better.
Diamond, mint, excellent, good. That's just how the seller's real estate agent describes the condition that the house is in. If it says diamond or mint condition it's probably new or the sellers have kept good care of it so you really don't have to do much. If it says good condition it means you can move in and live here but you might want to update things like the appliances. I still don't know if diamond is better than mint or vice versa, but remember it's the seller's RE agent making these descriptions so of course they're trying to sell the house and going to make it sound great. You really need to see the house in person for yourself to decide.
Once you start actually looking at houses you'll become better acquanted with what things mean when you see them online and you'll be better able to pick out the houses that you actually want to visit.
Feel free to ask more questions and I'll try to help!
ewickens
Posted:
Member since
Re: Home buying newbie has questions
Cindy just about summed it up.
Also, go around to banks and Federal Credit Unions to get a pre-approved mortgage. Seller's love seeing that the buyer is all ready and pre-approved by a bank for the mortgage.
ama1771
Posted:
Member since
Re: Home buying newbie has questions
we're looking too! Remember to relax, as it gets very overwhelming and stressful!
