Know the Basics When Buying a House
1. Prequalify. Know what kind of house you can afford before you start looking. This will narrow your search and keep you grounded so houses you can’t afford will not disappoint you.
2. Research. Find a good neighborhood. Know the school district, especially if you’ll have kids attending a school nearby. Is shopping convenient? Is the area growing? Can you look forward to appreciation on your house? What’s the area like? Are you next to vacant land that could be a freeway or a new mall soon?
3. Log. Note your visits to potential houses. It may sound silly, but after you look at several, it can get confusing later on. Write down advantages and disadvantages of each house. Draw a simple layout sketch to refresh your memory.
4. Money. You should expect extra expenses other than just your house payment when you decide to purchase a house. Make sure to take taxes and insurance into consideration. Also, if you are a new home buyer and don’t have a huge down payment, then add in mortgage insurance. Check with your mortgage company and they can give you the rate.
Remember you may have to factor in the cost of paint and wallpaper for the new house, as well as utility bills. These costs can add up.
5. Shop. Don’t settle for the first house you see. You should look at an array of different homes so you can obtain a good comparison. As an average guideline, you should look at least 15 homes.
6. Inspect. Found the house you want? Ready to make an offer? Not yet. Hire a professional inspection service. Once they make their inspection, you are better aware of any potential problems and can adjust your bid on the house accordingly.
7. Negotiate. Now that you are armed with your inspection information you are ready to negotiate carefully. Put it ALL in writing. No exceptions.
8. Moving. Allow extra time to move. Make sure you have plenty of overlap time in order to get out of your old house. Something will always come up, and the last thing you want to do is rush.
9. Insurance. Shop around. Consider a high deductible. Also, consider your car insurance while shopping because many places offer discounts when they get all of your business at once.
10. Real Estate Agents. Yes, you can find a house on your own, but agents are helpful in assessing your needs and showing you houses that may match what you are looking for. They can be helpful, too, when it comes down to the negotiating. Try getting a referral from a friend or family.
Buying a house is a big deal. No need to rush. They make new ones everyday. Shopping for financing can be as big a step as actually finding the house and it’s hard work, but it’s worth it when you finally settle into your new home.
Courtesy of : The Kiper Team (636) 898-1231 or (314) 729-1010 | 
