Purchasing a townhouse instead of a single-family house or condo is a wonderful idea. It’s a very popular housing choice right now! While the process of buying a townhouse is not unlike that of other home options, there are some differences you’ll need to be aware of when shopping. Let’s discuss them now:
#1 Hire a real estate agent. Even if you already know you want to live in Rivington, you still probably want a real estate agent acting as a guide on your behalf. Your agent can provide information on buying a townhouse in the local market, negotiate on your behalf, and fill out all of the forms and disclosures necessary to purchase the home.
#2 Be familiar with the housing market. You will want to know the costs of townhomes in your area before moving forward any further. Your real estate agent can advise you on the median housing price of townhomes in this area.
#3 Learn about the HOA. You’ll want to familiarize yourself with the concept of an HOA, as well as what these fees are and what they cover for the specific neighborhood. For example, these fees typically cover somethings you would have had to pay for anyway, like lawn care.
#4 Prepare for a possible bidding war. As we mentioned above, townhomes are an increasingly common choice for homebuyers in this area. Everyone from first-time buyers to people retiring and moving to Florida want a townhouse. Because of this, you might find yourself in a bidding war. It’s best to determine ahead of time the maximum you are willing to pay and stick to that number.
#5 Get more than one mortgage lender quotes. Different lenders will offer you different amounts as well as different interest rates. It’s important to compare mortgage rates with at least three different lenders. Getting a low rate can save you thousands of dollars over the life of a loan.
#6 Get pre-approved for financing. It’s nearly impossible to shop without knowing what you can actually spend. You should always get preapproved before home shopping. Being pre approved provides you with a number of advantages. For one, it gives you a better idea of what you can afford. It also helps you compete with other buyers if a bidding war does start, because you can prove what you’re willing to pay.
#7 Get a home inspection. You’re not ready to sign on the dotted line just yet! Home inspections are important for townhomes. Make sure the inspection includes both the inside and outside, even if the HOA takes care of the exterior. Any exterior problems can be taken care of by the HOA or the sellers themselves. If any problems are found on the exterior, make sure they are addressed and repaired before going through with the sale.
Go ahead and get started! There are so many benefits to living in one of the DeBary, FL townhouses in the Rivington community. You don’t want to miss your chance to get one!