Buying your First Home
By Roslyn Lash
The purchase of your first home is a trying and difficult process. No two homes are exactly alike. Therefore the process of buying will never be identical. Each time that you see a prospective home, you view it differently because each home is unique. It has unique landscaping, a distinct floor plan, and is in a different location. Location is the single most important characteristic in determining the price of a piece of property since land is unique. There are no two identical pieces of property. Neither the neighboring houses, nor the scenery can be duplicated due to the permanence of land. Your house and neighborhood are immobile. The same piece of property in one area of the city may cost tens of thousands of dollars more in another area of the city. This principal also applies for different areas of the country. For example, a house in your neighborhood might be priced considerably less than if that same style home in California! This is because California is a very exclusive part of the country. The salaries in that area tend to be higher. Therefore, the cost of living and housing accommodations will also be more expensive. Of course, if you select a property that’s more expensive, be sure that you qualify for the mortgage.