7 Important Details to Keep in Mind When Buying a Home

Palm Beach Gardens luxury homes

7 Important Details to Keep in Mind When Buying a Home

Before you get swept up in the excitement of buying a new home, especially if you are looking at Palm Beach Gardens luxury homes, heed this valuable advice and get the facts on the following important home buying issues.

Home’s True Condition

First: Make sure you are informed about the condition of the house. A seller’s property condition disclosure form is required on most residential real estate properties. This form must be furnished to the buyer before making a written offer on Palm Beach Gardens luxury homes or any other home. It can be utilized during the inspection of the property.

Zoning Restrictions

Second: Get the skinny on zoning restrictions. Zoning is established by local government. It designates the types of buildings and how each of them may be used. Check with your Berkshire Hathaway HomeServices Florida Realty sales professional about restrictive covenants. These are private agreements that restrict the use and occupancy of a property, such as architectural requirements and setbacks.

Property Taxes

Third: Taxes are a big part of your upcoming financial responsibility. So be sure to determine the estimated property tax and any special assessments regarding roads, streets, sewers, electrical, and similar items for the home.

Easements

Fourth: Easements are the right or privilege one home owner has to use another property owner’s land for a special purpose. Easements are commonly given to telephone and electric companies as well as gas and water companies. Know what type of easements apply to Palm Beach Gardens luxury homes or any other piece of property you are considering.

Home Owner Associations

Fifth: Home owner associations or HOAs are part of most multi-residential communities such as condominiums, multiplexes, villas, or townhomes. Neighborhoods, subdivisions and other similar communities also are adopting HOAs to keep conditions in line. When buying Palm Beach Gardens luxury homes or other residential properties, be sure to factor the HOA into your financial plan. You need to know whether the association is financially healthy before you get involved.
Settle on a Loan Price That Suits Your Lifestyle

Sixth: You may end up qualifying for a loan that is more than you were expecting. That doesn’t mean you have to take it. Financially determine what works for you and your family by looking at your overall financial picture. The best way is to decide on a monthly payment that fits your lifestyle needs and then proceed forward. Overextending yourself just because a loan officer put numbers to paper isn’t the way to enter into a mortgage.

Know Your Agent

Seventh:  Just like you would want to know the qualifications and capabilities of a financial advisor, you want to know how accomplished the real estate sale professional is. This is the person who will be helping you find the right Palm Beach Gardens luxury homes or other real estate property and it is important to know how competent and experienced they are.  Remember, buying a home is a financial investment and it involves strict guidelines. If your realtor is not on their game, you can waste a lot of your time and money.

Florida Realty News
Florida Realty News
Berkshire Hathaway HomeServices Florida Realty, a wholly-owned subsidiary of WCI Communities, has over 39 locations and more than 1,650 real estate sales professionals and team members serving 17 counties throughout Florida.
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