Plan of Action
Buying a home
will probably rank as one of the biggest
personal investments one can make. Being
organized and in control will contribute
significantly to getting the best home deal
possible with the least amount of stress. Is
important to anticipate the steps required
to successfully achieve your housing goal
and to build a plan of action that gets you
there.
Before you can build a plan of action, take
the time to lay the groundwork for your
decision-making process.
First, ask yourself how much can you afford
to pay for a home. If you're not sure on the
price range, find a lender and get
preapproved. Preapproval will let you know
how much you can afford so that you can look
for homes in your price range. Getting
pre-approved helps you to alleviate some of
the anxieties that come with home buying.
You know exactly what you qualify for and at
what rate, you know how large your monthly
mortgage payments will be, and you know how
much you will have for a down payment. Once
you are pre-approved, you avoid the
frustration of finding homes that you think
are perfect, but are not in your price
range.
Second, ask yourself where you want to live
and what is the best location for you and/or
your family. Things to consider:
* convenience for all family members
* proximity to work, school
* crime rate of neighborhood
* local transportation
* types of homes in neighborhood, for example
condos, town homes, co-ops, newly
constructed homes etc.
Buyer's Tips
Avoiding Financial Stress -
Use a Buyers Agent -
Don't Make Major Credit Card Purchases -
Be Careful of the "Dual Agent" -
Finding the Right Seller -
Importance of Inspection -
Getting a Legitimate Lender -
Be Wary About the Listing Agent -
Hot, Normal and Cold Markets -
Build a Plan of Action and Get Ready
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