How about buying a home in Fort Lauderdale to make maximum profit from it every year? Didn’t you get how to make a profit by purchasing a home? Doubtlessly, hundreds of hodophiles (Travel Lovers) add Fort Lauderdale to their bucket list during the vacation season. And during this, they need a home too. Did you get our point?
Not just for renting purposes, even if you’re going to buy it for your family, you might find it a ticklish task. It goes without saying that houses in Venice, America, are not cheap and can cost you an arm and a leg.
Here you must know that in November 2022, the home prices in this Fort Lauderdale were 5.6% up compared to 2021. And the medium price was $475K. But what if you spend big bucks on buying a new home but still that’s not worth it? It will surely drive you crazy.
But unwind your stress as we will provide you with the 5 foremost things to consider when buying a house in Fort Lauderdale. So, let’s dig a little deeper to make your house-buying process a cinch.
Let’s get started, you all Fort Lauderdale lovers!
5 Leading Things to Consider When Buying a House in Fort Lauderdale
When buying a house in Fort Lauderdale, you might not be an expert in making the best deal. So, it’s crucial to consider these five main things before closing a deal.
- Save Big Bucks for the Down Payment
- Don’t Forget to Know About Home Insurance
- Hunting a Good Real Estate Agent Must Be Your Priority
- Is Hurricanes Protection Necessary? Hell Yes!
- Get Your Home Inspected by a Professional!
Here’s a comprehensive detail on each of these points.
1- Save Big Bucks for the Down Payment
You might consider it a bit risky to pay big bucks as a down payment. But it’s not! Paying a larger down payment will make you a less risky borrower. And it’s proportional to a low-interest rate. When there’s a low-interest rate, you’ll have to pay less as monthly payments.
As a result, you’ll pay less interest. In simple words, down payments and interest rates have an inverse relationship.
Let’s say you pay a down payment of 5% when closing a deal for a new home. With this percentage of interest, you’ll have to make a monthly payment of about $2,193. It would make the total interest $402,793. Do you have any guesses about the total cost? Man, it would be $809,781. Yes, it would be that much.
On the other hand, if you choose to make 20% as a down payment, the monthly payment will reduce to $1,847 with a total interest of $339,194. And buying a home in Fort Lauderdale will cost you $746,182. Yes, about $63,599 less than the above option! So why trap yourself under hefty interest when you have a better alternative?
2- Don’t Forget to Buy Home Insurance
Worried about buying home insurance? Relax! Not all insurances are necessary, but this doesn’t mean that you can go without buying any of them. To get your home insured by Citizens Property Insurance, you will have to pay $5000 a year.
Not just this, Nationwide, Chubb, State Farm, and ASI Progressive are some of the other best cheap home insurance companies in Fort Lauderdale. But what standards should your home meet for getting insured?
Come on; it must have a proper electrical, air conditioning, and plumbing system. Furthermore, window coverings and good condition of the roofing system are also a must.
3- Hunting for a Good Real Estate Agent Must Be Your Priority
Are you among those who consider getting a real estate agent will only help you in buying a home fast in Fort Lauderdale? Yes, that’s true! And 3-Step Home Buyer is the matchless example as they make it super easy for the sellers to sell their home and buyers to buy that home. That’s the reason 88% of buyers purchase a home through agents.
Apart from this, these agents can also help you negotiate the price.
Other than this, getting a good agent is beneficial because:
- These agents can access off-market deals faster
- They are well aware of trends in the industry
- Agents have knowledge of the school districts
- You can get the best guidance about the mortgage process from them.
So, go for an experienced agent with an excellent overall review score and a good number of transactions.
4- Is Hurricanes Protection Necessary? Hell Yes!
Do you know Fort Lauderdale is highly susceptible to hurricanes? Then how can you say your new home won’t get affected by storm surges and plentiful rains? We don’t say you should put your hands on a hurricane-proof house but go for one that has maximum hurricane protection.
Before making any deal, ensure the home has hurricane shutters and wind-resistant windows and doors. Moreover, a hip roof will work as a bomb in driving the winds away from your house.
Most importantly, opt for a home that has a round or square structure. It will surely reduce the wind pressure on any specific side and your home won’t get that damage in a hurricane.
5- Get Your Home Inspected by a Professional!
There’s no denying that inspections are a golden chance to uncover any unexpected things before making your purchase. It’s better to take a professional with you who can give you a thorough report of the condition of the home.
When doing a home inspection, consider these points in your mind:
- Are the electricity cables fully protected and secured?
- Is there any leakage in the water pipes or are they rusted?
- Is the paint faded or stained?
- Are there any cracks at the base of walls or ceilings?
- Do all the rooms have proper airflow?
- Are the windows and doors properly framed?
Inspecting all these things will give you a clear-cut idea about the condition and cost of the house.
Let’s Make Your Home Buying Process in Fort Lauderdale a Breeze
Buying a home in Fort Lauderdale isn’t that easy. But who says it’s difficult when you have the 3-Step Home Buyer? We don’t just prove to be a bosom buddy of property owners, but we make it easy-peasy for the buyers to close their deals for the best homes.
Moreover, here are some of the reasons why to prefer 3-Step Home Buyer to any other real estate company;
- Don’t charge any closing costs or upfront fees.
- Provides a fast and straightforward home-buying process
- Offers you diverse home-buying options
From single-family houses to farmhouses, we help buyers to go for the most suitable option with a flexible buying process. You can close your deal with us in three easy steps. No need to pass the time on mortgage paperwork, choose us and get your desired home within a short period of seven days.
So put your skates on and get in touch with us to close your deal fast for a home in Fort Lauderdale!