It is the question many would be home buyers are afraid to ask, “how do I buy a house?” I think many are afraid a real estate professional would say, “get pre-qualified for a loan, find a house, make an offer.”
That’s lovely advice, but I don’t think it addresses the real concern. I think the REAL concern is, “How do I avoid a horrible, expensive, mistake?” Or, better yet, “How do I avoid getting “sold”?”
Set your priorities for the house
Sit down and think about what you want from this house. Everyone has some basic priorities: investment value, convenience, safety, schools, aesthetics, recreation/entertainment are some of the most common.
However, no one has these values in the same order or intensity. To help you set those priorities ask these questions:
- How do you imagine living in the house?
- How long do you plan to live here?
- What do you want the house to do for you?
- How much time or money would you spend on the home after you move in?
- Who will be living in the house and what will they be doing, there?
Set your priorities for your agent
Set your budget
- How much money needs to stay in your account after the purchase? Most people feel the need for a cash cushion
- What life style do you expect after the purchase?
- What are your best guesses for you career? Are you likely to remain steady, move up or is your job in peril?
- What do you expect for household income? Do you expect a change in your partner’s work status in the next 5 years?
Select your neighborhood
Now you can go shopping