Making the decision to invest in a new home can be exciting, but the process of purchasing real estate can be overwhelming as well. Unfortunately, between requests for your credit reports and appointments for walk-through inspections, it can be easy to overlook some basic things that can have a huge impact on your happiness level in your new home in the future.
Here are two things you should be watching for as you shop for a new home.
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All property managers have horror stories of tenants that made their lives miserable and left thousands of dollars of damage to the rental unit when they moved. Tenants also have horror stories of neglectful, rude or downright criminal landlords who they couldn't wait to get away from. To attract and keep great tenants, you need to treat them well and show that you appreciate them.
Allow Reasonable Alterations to the Rental Units
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If you are trying to pay off debt or save money in a city with high rents, one of the quickest ways to do this is through downsizing. While living with roommates is a possibility, if you value your privacy, you may not want to go with this option. If you have a one-bedroom apartment then decreasing to a studio apartment is an option. If you want private space for your bedroom, here are some ways to transition to a studio without feeling you are always in the open.
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Not everyone can afford to build a brand new custom home. If you are in the market for a new home, you may be looking at older homes where you want to live. Buying an older home can also present its own sets of challenges. You will want to know about the repairs and maintenance that you will need to do. Here are some tips to help you with planning when purchasing a new home:
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For most people, a home is the most expensive investment they'll ever make. And it's definitely a worthwhile investment – after all, you'll build equity as you pay off the home, rather than throwing away money on rent every month. However, that doesn't mean that you shouldn't try to save a little money on the deal if you can. Many home buyers don't realize that if they can sweeten the deal for the seller, they may be able to get the home they want for less than the asking price.
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