Buying A Home 101

Whether it's your first time buying a home or not, youWhy confuse yourself between needs and wants
should familiarize yourself with the whole mortgagewhen you can have both? Upon gathering information
process. Numerous mortgage lenders will assist you inin buying a home, take into consideration the different
the process of acquiring a pre-qualified andtypes of houses available and decide what you want
pre-approved home buying application. Of course, yourfrom what is offered.
mortgage qualifications will be required by your agent- Word Confusion
to strengthen your deal in finding and buying a home.Needless to say, when you buy a home you should
Here are some things to consider when buying afamiliarize yourself with the terms and words used
home.during the dealing and negotiating with your agent and
- Moneycontractor. Also, try to keep a list of the questions you
Before buying a home, consider your financial status.have that need further clarification.
Check your credit situation by getting hold of your- Cue Cards
most recent credit report at the credit center. YouYou don't want to forget even a single detail about the
should know exactly how much money you have andhome you've selected, right? Why not keep little cue
how much you can afford to spend on a home.cards where the 'plus & minus' on each home or
- Timeproperty you've seen is listed and recorded.
Don't expect to find a great home tomorrow if you've- Points and Plus
only begun your search today. Buying a home is likeLearn how to bargain and get the best possible deal.
working on a school project. It needs ample time. If you- Safety and Security
think you've gathered enough information andBe sure to get homeowner's insurance. It may seem
resources within your time table, so be it.like a lifetime expense, but it will get you continued
- The Right Agentsavings in the long run.
If you believe in the comfort and rewards of buying a- Final Check
home, you will need to trust the agent who will do theDo a final inspection or walk-through of the house
work for you. In finding a reliable agent you will need tobefore settlement and before the contract is
look at many sources of information to determineprocessed.
"who represents what". It is always best to compareConsider the above points as helpful factors when you
experiences, backgrounds and referrals of reputableto decide to buy a home. Plan ahead and avoid the
people.common mistakes that most home buyers make.
- Needs vs. Wants