Buying a house can seem like a daunting task, but the reward of owning your own place is worth it, especially if you’re looking to rent it out as a steady source of income. If you’re considering buying real estate, consider that the housing market is currently a “buyer’s market”, meaning that as a buyer, you have the advantage! Here’s a brief guide to the home-buying process from the agents of Portsmouth property management.
Make sure you get the help you need. You shouldn’t have to do all the work yourself. After all, you undoubtedly have many other responsibilities to take care of. A renowned real estate agency can help you buy or lease a home that’s perfect for your tenants.
Don’t settle on a home you feel lukewarm about. There’s no need to rush into any big decisions. Take your time, weigh your options, and take the advice of your real estate agent into careful consideration. Avoid being impetuous, and you’re sure to find a property of which you can be proud.
The most pressing issue is often your finances. Popular wisdom states that you should spend about a third of your gross income on your mortgage, insurance, maintenance, and taxes. Make sure you are realistic about the figures. Once you have your finances squared away, it is best to pay a 20% down payment. This will aid you in your search for a reputable and fair lender. Once you’ve purchased your property, you may engage the services of a rental management company, which will handle the daily and monthly landlord tasks for you.
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Phone (804) 554-3197 | fax (804) 282-4757