Thursday, December 06, 2007

Things To Consider When House Hunting

When it comes time to buy a home there are some important factors to consider to ensure you make the right decision. You may want to buy a home in a particular neighborhood, or maybe you are looking for a large back yard. House hunting can be exciting, it can also be stressful and overwhelming. Use the tips below to help lead you in the right direction so make your experience a positive one and in the end find that house of your dreams! • Create a list. Think about what you and your family really need and want in your home. Focus in on the features you must have, would like to have, definitely don't want and would prefer not to have. Your goal is to find the right home for your family without falling in love with one that doesn't suit your needs. A good idea to get started is to think about what you like and dislike about your current home. • Location, location, location. You've probably heard this old real estate cliché several times, but the point still bears repeating. Location is crucial. How far are you really willing to commute to your place of employment? How close are the local schools, shopping centers, and other amentiites. Is the potential home next to a busy road or a commercial property? Keep in mind even a picture-perfect dream home can be a mistake if it's in an undesirable location, and a poor-location home can be a particularly bad choice if you anticipate reselling the home within a few years. •Prepare by doing your homework. The internet is a great source of information about recent home sales prices, market trends, homes on the market, neighborhood statistics and the home-buying process. Go surfing. Get educated and learn all you can to help you make the right decision. •Affordability. Before you begin your search you shoud get pre-approved, so you know how much money you can borrow you'll know the price range you can afford. In addition, it can save you a lot of heartaches from falling in love in something way beyond your budget. Once you know your pre-approval loan, double check it by considering your present circumstances, lifestyle and spending habits. Once your confident with how much you can afford to buy, concentrate on the properties within your budget. Don’t be tempted to look at more expensive properties. and buying more than what you can afford. •Be prepared to make an offer. House-hunting can be especially frustrating if you think you're not really emotionally or financially ready to buy a home. If you're not ready, don't put yourself through that experience. If you are ready, go through a blank purchase contract ahead of time so you'll know what decisions you'll face when you make an offer.
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