How to prepare yourself for homeownership in Witham Hill Corvallis, Oregon?
Corvallis is medium – size city located in the state of Oregon, its population is around 55,000 people and has 13 neighborhoods. It is declared to be one of the safest city in the U.S. and one of the best places for living. Considering real estate market, prices aren’t competitive with other communities in Oregon, but housing expenses are among the highest in the nation.
If you want to invest in real estate that is located in Witham Hill, Corvallis, you should pay attention to the following and set up your priorities.
First you need you need to decide what can you afford. You will need to review your annual budget and make an appropriate decision. In Witham Hill you can find affordable houses, but are they really what you are looking for? After you review your annual income, you will decide how big of a house you can afford. By an average statistic, you will be able to afford a house which value is two to three times bigger than your annual income.
Make you your wish list. It’s important to decide what type of house you will need. If you have a family, you will need a bigger home, if you are alone, you will still need a place where you will be feeling comfortable and not overwhelmed with small space. Put on paper all your ideas, but try to keep them in the limits of your budget, otherwise you will end up in debt.
Consider a mortgage. If you have enough money to qualify for a mortgage, that would be an ideal solution. 20% will be enough for the down payment, but you will also need to consider about additional costs, such as taxes, attorneys fee, transfers fee and others. This will cost you between 2 and 7 percent of the value of the deal. Credit record is also important – you should make sure it is accurate and up to date. It will provide your credit history, debts if you have any and late payments.
If you are first time buyer local government might have some programs that will be able to assist you with the down payment.
When you gather all this information contact a local real estate agent. There are a lot of agents in the Witham Hill that will provide you home buying and home selling services. The experienced real estate agent will point you out in the right direction and tell you how to avoid beginner’s mistakes.
If you decide to buy a house in this neighborhood, you won’t make a mistake. First of all, Corvallis is known university town, with a lot of schools, and peaceful neighborhoods. You will have great job opportunities and you won’t have to spend your life at work because average working hours during a week are 34.