Question: I hope to be buying my first house in the near future, and I need to be sure > that I am doing the right things.
> I am looking at a house with on the order 2000 SQFT with between 5-10 acres. > I want a 15 year fixed mortgage, and I would like to pay off the house ASAP. > Also, I know that one needs to be sure that the property is in acceptable > condition, through hiring a home inspection company.
> I also know that one can get a mortgage from a bank or mortgage company. > Is there a big difference? > What other issues to I need to be concerned with?
Answer: Check out the Home Loan Assistant software package. Good for calculating the costs you will have to meet. Check out all ‘hidden’ costs. In Oz home loan companies and banks offer a discounted interst rate for the first year. Also some banks etc will negotiate fees/charges etc. I know it is time consuming to research these issues but worth it in the long run. Do you want to hang onto the property for a while? Will prices go up in the future and if they do do you have the opprtunity to sub-divide and sell off portions. Check with local council re this and are there any caveats on changing the property you want to buy. No ggod buying a place and finding out there a re building restrictions in place. The final issue is: Never believe a real estate agent.Good luck
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