 Home ownership, expected to stay strong throughout 2005, offers many
benefits, including building equity, tax breaks and financial
stability.
According to www.realtor.org there are now many first-time homebuyers.
In fact, first-time homebuyers accounted for 3.23 million home-sale
transactions overall, including new and existing family homes and
existing condos.
Also notable is that Jim Gillespie, President and CEO, Coldwell Banker
Real Estate Corporation predicts: “Five distinct groups (Baby Boomers,
Echo Boomers, single females, immigrants and minorities) will
profoundly impact the residential real estate market for the
foreseeable future.”
Single women especially are having a significant impact on home buying,
and are purchasing homes at twice the rate of single men.
RealEstateJournal stated: “Armed with buying power and investment
prowess, single women are buying condos, co-ops, townhouses and
single-family homes in record numbers.”
Buying the Home That is Right for You
With home purchases remaining strong, it is prudent to become a
discerning homebuyer. Accessibility to work, school, shopping and
services required on a routine basis are important considerations when
selecting a new location. It is also important to...
• provide real estate agents with a realistic price range;
• become preapproved for a mortgage;
• be cautious about disclosing the timing of your move;
• research neighborhoods, developments, zoning laws and surrounding properties;
• check the availability of city/county public services, including fire and emergency.
Reliable real estate firms should assist homebuyers in making sound
home purchase transactions. However, homebuyers should also become
knowledgeable on their own. Whether buying a new or used home, it
should be inspected by a professional home inspection company and a
Home Warranty secured. If the seller is anxious to make a sale, he/she
will probably pay for these services if asked, or at least split the
costs with the buyer. However, both services are to the buyer’s
advantage and should be secured regardless of who pays for them.
Carefully evaluate any prospective home so that the interior layout is
amenable, and that the exterior considerations mentioned meet your
family’s needs. Also consider room arrangements that you especially
enjoy in your current home and whether you will miss these if they do
not exist in your next home.
Overseas Housing
If you are moving overseas, your choice of living accommodations will
be determined by factors such as company policies, personal
preferences, the length of the assignment and financial limitations.
You can research housing options on the Internet and also ask other
expatriates who are living in the area for recommendations.
Purchasing a home in a foreign country has limitations, and may be
impossible if you are not a citizen of the country. Most companies do
not encourage expatriates to buy a home for the duration of the
assignment due to tax and real estate complications and currency risks.
However, if you choose to purchase a home as an investment, carefully
research the financial and legal aspects and consult with a qualified
estate agent.
If you work for a large multinational corporation, it may be possible
that as you are moving overseas, an expatriate within your company will
be repatriating. The opportunity thus arises to swap or exchange homes.
Of course many factors need to be
considered, least of which are the duration of your tour and guidelines
for maintenance, but this type of housing can be a viable option.
Whether a first-time or seasoned homebuyer, one can always learn a few
things about home purchase negotiations. Home buying tips and advice
abound and any homebuyer would be wise to check them out. BR Anchor
Publishing’s books Relocation 101 (domestic) and Home Away From Home
(international) offer home buying advice and techniques, home purchase
checklists and over 60 websites with valuable home and mortgage
resources.
 “Reprinted with permission from Relocation Today Volume 7,
Issue 6 by BR Anchor Publishing, Wilmington, NC. Publisher, Beverly D.
Roman is the author of twenty relocation titles for adults, teenagers,
preteens and young children. Contact her at
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
, or 910.256.9598. See her books at www.branchor.com
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