Real Estate Questions Answered For First Time BuyerPosted by: Damon Webster | Posted on: November 21, 2019
Purchasing your first piece of real estate can be both exciting and scary. It is a big financial step and long-term commitment. This is one of the largest financial maneuvers made by the average citizen. Hence it is in your favor to gain some knowledge on buying real estate in Puerto Vallarta before making the actual step.
Here are some answers to some questions that are more typical requested by buyers of houses.
Why should I buy rather than rent?
There is always a debate about this question and particularly in the current uncertain economy. One of the main reasons for buying a home rather than continuing to rent is that the mortgage checks are written each month to go toward the purchase of assets for homeowners.
Do I have to use a real estate agent?
A real estate agent has a lot of experience and skill on the part of those who could greatly benefit the home buyer. A homebuyer especially beginners will need a little guidance in terms of where to look, what to get, how to handle the mortgage document.
How much money should the buyer be ready to come up with to buy a house?
Down payment will be required and closing costs. The amount of the down payment will vary depending on the type of loan. There is a federal program that will help first time home buyers so that they have a smaller down payment, but greater advances in favor of any person.