Nestled in the western mountains of North Carolina is the town of Hendersonville which is about 35 miles south of Asheville, North Carolina. Some of the best hiking trails, rivers and scenery in the US are near Hendersonville and if there is an opportunity to make this lovely town your permanent home, there are many quality homes available. Before an offer is made, research and preparation will help in making the best decision.
What should I do before I look at homes in Hendersonville?
There are many temptations to buy a home in Hendersonville and some good deals to be made but it is very difficult to be competitive and negotiate a good deal on a home without getting officially pre-qualified. It is also important to know what price range is within reach before spending too much time and emotional energy looking at too wide a range of available homes.
How much can I afford?
Many people spend their disposable income differently, but lenders will look at the same ratios for everybody. Long term debt is debt which has 12 months or more remaining and the house payment plus long term debt can almost never exceed 50 percent of gross income. If there is no long term debt, the usual ratio is 33 percent of gross income. Gross income is the amount of pay before any deductions are taken. These are maximums and many people prefer to spend less of their income on housing.
Is it better for me to buy or rent?
Home ownership means the freedom to make permanent improvements on your home receive the benefit of the increased value as well as tax advantages. If you see yourself as a permanent resident of Hendersonville and a home you like is within your capabilities, it is better to buy in the long run.
How do I choose the best home loan?
To begin with, analyze your immediate financial future. Is your income going to increase or decrease? Are your long term expenses going to increase or decrease? Are you going to live in the house a long time or are you planning on moving within the next three to five years? Are you comfortable with a changing loan payment? Do you want to pay off the loan quickly so you have no house payments? The answers to these questions will help you decide on the amortization schedule and whether or not an adjustable rate mortgage is a good fit for you.
What should I look for when deciding on a community?
Hendersonville is a quiet rural community that provides quality public transportation to shopping and community centers. If you are not concerned with an active nightlife and enjoy a quiet small town atmosphere with good public service, Hendersonville is a good community for you. It is important to choose a community that supports your lifestyle.
How do I make the right offer on a home?
Before you submit an offer, you should know if the home you want is priced according to its value. Some recommend offering five percent below the asking price. Each situation may be different. If the home is priced for a quick sale and there is a lot of activity, you may wish to present a stronger offer at the outset. If the home seems a little high, more than five percent may be in order. The seller may counter offer and you and the seller will compromise and agree in the middle.