Home Loans California & Arizona

Tucson AZ Purchase home loans, who does them

November 20th, 2019 2:45 PM by Nathan Rufty

Now is a great time to purchase a new home in Tucson AZ. However, purchasing a new home needs care. There are sloppy ways and smart ways to purchase a new home. I would like to share with you 3 things I think home buyers can use to make their next home purchase more secure.



Remember your home is your home and not an investment.

The main reason why you are purchasing a home is because you need somewhere to live. That must be your top priority. You need to make sure that your home meets your needs and the needs of your family.

Looking long-term will help you make sure the mortgage payment you choose will meet your long-term financial terms. As the bust has shown us, increased mortgage payments have caused many to lose their homes. You need to make sure the payment you have now will be good for you long-term. 

Some people jumped at teaser financing that promised low rates now with balloon payments later. People jumped at them thinking they could always refinance later. Well, when the bust dropped the value of homes 30-40% people found out they could not refinance.

Approach the house you will purchase as your home and not an investment. However, one of the great things, a side benefit if you will, is the home can be a great investment. It just cannot be your primary concern. Home ownership will give you great tax benefits as well as building your equity for the future. These are great! Just do not purchase a home because it might be a good investment above choosing a home that will meet your needs long-term.

Home Warranties are an awesome idea and worth the low cost.

There are different levels of warranties from the basic up to top-notch plans that cover everything. You can start with the basic plan and then add items that make sense for your home. Some other optional coverage options that you can add would be for central A/C, pool/spa, roof leak protection, etc.

When you own a home the proverbial buck stops at your desk. As a renter you always had someone else to handle the repairs (and the expenses of repairs.) As an owner it is all up to you. And the simple can get very expensive very fast.

Not all home warranty companies are created equal so make sure you choose a reputable company.

Inspections with repair costs will protect your purchase.

Home inspections are part of the purchase fo a new home. As a buyer you have the right to perform inspections and the seller is required by law to make to house available for those inspections. There are 2 main inspections that are used right from the beginning: general inspection and pest control inspection. However, there are other inspections you can choose based on your needs and the results of the general inspection.

If the general inspection hints at any potential problems then you need to protect yourself by ordering a specialist to come examine the noted issue. Some typical follow-up inspection would be roof inspection, plumbing issues, or electrical issues. I would recommend another good test to obtain which is a manometer test. This test will measure how level the foundation is and will expose if there are potential problems with the slab.

Take the inspections one step further and get repair estimates. This way you will know what you might be facing for repairs or know what to ask the seller to repair. Having repair estimates will make the conversation between the buyer and seller easier.

Home ownership is part of the great American dream and a dream that I am committed to. If you are ready to realize your dream call Nathan Rufty at (623) 850-1210 to get started with your home purchase process in Tucson AZ.


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