boise real estate buyer Buying real estate in Boise, or anywhere for that matter can have it's difficulties, so I have put together a top ten list of helpful hints. Use them to organize yourself while searching through home listings and deciding which homes you should pursue or exclude.

What are the most important steps to take to buy Boise real estate?

1. Decide what you can comfortably pay. Purchasing a house in Boise that costs a little more than double your combined gross income yearly is considered to be typical.

2. Put together a list of things you want in your house. Make sure to put them in order of importance for your Boise real estate too.

3. Choose where you wish to live. Keep careful notes on any area or municipality that you want to live in, and cautiously research important community characteristics like fire protections, police effectiveness, jobs and schools.

4. Save some money for purchasing your home. Use your cash reserves to pay a nice deposit on your home purchase, or pay toward your loan fees or a rate buy down? You are best served to put down at least twenty percent of the purchase price for a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Firm up your credit scores. Pulling your own credit report and proactively fixing any negative reporting on it is a great way to head off problems in buying Boise real estate. Banks use your credit history to make sure you are reliable, so take the initiative to confirm it yourself.

6. Meet with a loan officer to go over the basics. How large of mortgage do you qualify for? Maybe you want a lower rate initially, then you should look at an ARM, but if you are looking for a consistent payment check out a 30 year note.

7. Complete the application process and get pre-approved to buy Boise real estate. Organize all the documentation a lender will need to pre-approve you for a loan. Many times the people who underwrite loans for banks will have to validate information like job confirmation, retirement fund statements or saving account statements.

8. Be prepared with back up funding for the down payment on your home. Always be aware of any municipal or federal programs that may help you with your down payment? Using any first time home buyer assistance is always advisable to spare your cash so you can spend it on other fees, or furniture. As a down payment source, your retirement account, like your 401k, can sometimes be tapped without penalty to purchase your first home.

9. Counting every single expense in buying a home. Find out the extra costs of home ownership, including tax and insurance, HOA fees and maintenance costs so you are not surprised when you move in. In Boise, tallied bills may lump in municipal sewer, garbage and city water expenses as well!

10. Hire an experienced real estate agent. The guidance and insight of a certified real estate professional is invaluable. Boise real estate agents will eagerly help you in your home purchase and counsel you on coming investments likewise!

To learn more helpful hints that will help you buy Boise real estate click here!

Federal government extends first time home buyer tax credit for 7 more months!

Whew! Many us in the real estate industry breathed a collective sigh of relief when the federal government agreed to extend the first time home buyer tax credit initially passed last year.

This tax credit is really what buoyed the real estate market by stimulating many prospective home buyers, who presumptively may not have purchased without it.

There are many perspectives on this topic as with most things, that contradict and even oppose each other. Many taxpayers do not feel like their tax dollars should go toward giving other people a credit for something as random as buying a home. This perspective is negated once you understand that the tax payer is getting in return for his tax dollars, a more stable economy and a better job market since home construction takes many contractors from different disciplines.

Another point of view is that the tax credit is only going to get people who were already going to buy, to do so for the tax break. This point of view forgets that the entire point of establishing the tax credit was to help the real estate market for the short term. Since many of the buyers who are buying right now were obviously already looking, then the limited deadline of the tax credit will help them decide to buy sooner, rather than later.

Then there is always the tax cheats. In this case it is people who have not purchased a home that qualifies under the first time home buyer tax credit program, but will claim the credit anyway. This is, of course, tax fraud and if convicted many homeowners will find themselves facing possible jail time and penalties that make any tax credit they may get pale in comparison.

The fact that the first time home buyer tax credits have helped buoy short term real estate prices is undeniable and many whose hard earned dollars went to fund this program know that it was a necessary step to keep the entire nations home prices from falling a lot further. As the job market starts to rebound the real estate market will find more buyers and will start to become much rosier in its projections.

Click here to learn more about Boise real estate!

Boise Real Estate Blog

10 Techniques To Make Owning Boise Real Estate Easier!

What are the most important steps to take to buy Boise real estate?

Good News For Boise Real Estate Buyers!

Federal government extends first time home buyer tax credit for 7 more months!

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