Frequently asked questions
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What is the first step in the home buying process?
The first step is usually getting pre-approved for a mortgage. This helps you understand how much you can afford and shows sellers that you’re a serious buyer.
How much do I need for a down payment?
The down payment depends on the type of loan and the price of the home. Typically, it ranges from 3% to 20% of the purchase price. Some government-backed loans may require less.
How long does it take to buy a home?
On average, the home buying process takes 30 to 60 days once your offer is accepted, but it can vary based on financing, inspections, and market conditions.
Do I need a real estate agent to buy a home?
While it’s not required, having a real estate agent can make the process smoother. Agents help you find listings, negotiate offers, and handle paperwork.
What are closing costs and how much should I expect to pay?
Closing costs include fees for the loan, appraisal, title, and more. They usually range from 2% to 5% of the home’s purchase price.
What documents do I need to rent a home?
Typically, you'll need a valid ID, proof of income (like pay stubs or bank statements), rental history, and sometimes a credit report or guarantor.
How much is the security deposit, and is it refundable?
The security deposit is usually equivalent to one month’s rent (though this can vary). It is refundable at the end of your lease, provided there’s no damage or unpaid rent.
What is included in the rent?
Rent may cover only the space itself, but some landlords include utilities like water, electricity, or internet. Always ask what’s included before signing the lease.
Can I make changes to the property, like painting or installing fixtures?
Usually, you need written permission from the landlord before making any changes. Unauthorized alterations could lead to charges when you move out.
How do I get access to a theme I purchased?
What happens if I need to move out before the lease ends?
Are pets allowed in the rental property?
Pet policies vary by landlord. Some rentals allow pets with a pet deposit or monthly pet fee, while others have strict no-pet rules. Always confirm before moving in.
How do rent increases work?
Landlords can raise the rent when your lease ends, but they typically must give advance notice (e.g., 30–60 days). Check your lease and local laws for specifics.
Who is responsible for repairs and maintenance?
Landlords are usually responsible for major repairs and structural maintenance. However, tenants may need to handle minor issues or report problems promptly to avoid penalties.
