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How Do I Buy A Home?

Dec 27, 2007
Buying a home may seem exciting and a lot of fun, but the truth is, buying a home can be tiring and it can result in weekends of driving around communities looking for the perfect one. This could also mean dealing with annoyingly persistent real estate agents who will show you house after house to no avail. For first time buyers, this article is not meant to scare you. This is just a guide to the basics of buying a home of your own.

The Money

It may seem cold and hard, but the truth is Money is the first determining factor before you decide to buy a home. Sit down and calculate how much you can afford and how far you can up your offer. If you do not have enough money, taking out a Mortgage is sometimes helpful. If you do decide to take out a Mortgage, it is important that you get pre-approved for the loan before you pick a house.

Now that you have determined your budget and have been pre-approved for a loan, then you can start looking for a home that will suit your lifestyle and the size of your family. It is important however, that you keep your budget in mind. It is a rule of thumb that if you are in a tight budget, it is wise to pick what you need over what you want. Sure, who doesn't want a house in a high end suburb that comes with the description:

"Beautifully Manicured Lawn and an artisan entryway greets you as you enter this gloriously wooded retreat that lie a few minutes away from an extravagant and exceptional country club and driving range where you can take your family for great fun - Price Tag: Lots average $2-$5 Million dollars".

Out of reach? It might be, but again, focus on what you need that is comfortable and beautiful enough for your family and yourself. It is also important to find a home that is near your place of work as well as your children's schools. Try working with a real estate agent or go can go online and search for homes that meet your specific needs.

After you have found a home that you like, put in an offer for it and wait for the owners to reply. Your offer should be below your maximum budget so that you have room to negotiate and haggle with the owners without breaking the bank. Once your offer has been accepted, it is advisable that you get the help of professional appraisers or an inspector to look for any damages that can lower the house's market value. This is where you have to be very sure of your feeling towards the property. Go over it with your spouse or children again and get their final decision as well, remember its not your home alone but the family as well. If all is settled, it is now time to seek legal attention to make all the papers and payments valid.
About the Author
Hunter writes articles for Stirling Legal Services providing ATE Insurance and Real Compensation No Win No Fee Solicitors
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