Buying a home can be a dream come true, but without the proper consideration and foresight, your new investment has the potential to become a financial nightmare. SWE Homes, a Houston mortgage loan originator specializing in no-credit mortgage opportunities and owner-financed homes, has a few tips for first-time home buyers as they tour homes for sale.
Here are three smart things to look for on your home-buying journey:
- The Bones: Try not to get caught up in details that can be changed, like a home's ugly purple exterior or tacky floral curtains. Remember that what matters to you is the bones of a home. If you like a house’s layout, size, and foundation, the rest can be solved with a trip to the home improvement store.
- Potential vs. Price: Sure, that little old house is brimming with charm and plenty of fixer-upper potential. But some projects are more financially viable than others, and it’s important to keep in mind how much updates will cost. Renovations for heating, cooling, plumbing, foundation issues, and electricity are among the most expensive home improvement projects, so be wary of any affordable homes for sale that require ultra-pricey upgrades.
- A Knowledgeable Inspector: No matter how hard you look and how much research you do, there are countless types of hidden problems and major issues that a layperson just won’t see. Though a good home inspector may cost a few hundred dollars, he or she could save you from having to spend thousands of dollars on repairs down the road.
As a residential mortgage originator, SWE Homes of Houston offers owner-financed homes for sale to provide home-buying opportunities to candidates with poor credit or no credit. To learn more about how you can achieve your dreams of owning a home with a no-credit mortgage, call (713) 413-1000 or visit their website.