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7 Smart Ways To Lower the Cost of Buying a New-Construction Home

Realtor.com

Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.

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Getting a Home Loan With Low or No Down Payment

Realty Biz

This type of mortgage can be used, not only, to buy homes in rural areas, but also for renovations, new constructions, and relocating a house. Along with zero down, it offers lower interest rates and closing costs. Money from this loan can be spent on a land purchase, and for connecting utilities.

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10 Steps for Navigating the New Construction Home Buying Process

HomeLight

The average cost of building a new house can range between $165,563 and $474,977 , and it could save you up to 15% in comparison to buying an existing home — but what do you know about the new construction homebuying process? Have you weighed all the pros and cons of buying new? Pros of new construction.

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11 Things to Do Before Listing Your Home That Are Worth the Effort

HomeLight

Gather repair and renovation records. If you’ve lived in your home for a significant length of time, chances are you have the records or receipts for appliance repairs and upgrades, renovations big and small, as well as services to your HVAC and fireplace. That’s why agents may recommend light renovation projects. Escrow fees.

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How to Find (And Qualify For) a Build Your Own House Program

HomeLight

The funds can be used to build, repair, or renovate an existing dwelling. They have to cover closing costs (around $4,500 to $5,000), plus a down payment for the house itself ($600). You can fill out an application by contacting your local rural development office. Section 502 direct loan.

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What Costs Are Involved in Selling My House?

HomeLight

1,000 on closing costs (such as deed preparation, mortgage satisfaction fees, attorney fees, wiring fees, any local municipality fees, etc.,) closing costs. moving costs. Repairs and renovations. Research shows sellers usually recoup about 50% to 70% spent on major renovations. commissions.

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Bridge Loans in Texas: How to Unlock Home Equity to Buy Before You Sell

HomeLight

A bridge loan for a real estate transaction is a short-term loan that enables homeowners to purchase a new home before their current home sells. Also called a swing loan or bridging loan, it allows a homeowner to leverage the equity in the home they’re selling to provide the funds for a down payment and closing costs on their new house.

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