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1. Be picky, but don't be unrealistic. There is no perfect home. 2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. 3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. 4. Don't wait to get a loan. Talk to a lender to get pre-qualified for a mortgage prior to looking. He will provide you with a letter stating that you are pre-qualified. 5. Do not ad too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel the need for a second opinion. 6. Decide when you can move. When is your lease up? Are you allowed to sublet? Ho~ tight is the rental market in your area? 7. Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you will buy as well as type of mortgage terms which suit you best. 8. Do not let yourself be house poor. If you go heavily into debt to buy the biggest home you can afford, you'll have no money left for maintenance or decoration or to save money for other financial goals. 9. Don't be naive. Insist on a home inspection and, if possible, get a home warranty from the seller to cover defects within one year. You may also buy one for yourself. 10. Get help. Consider hiring a REALTORŪ as a buyer's representative. Unlike a listing agent, whose first duty is to the seller, a buyer's agent is working for you. Most often, buyer's agents are paid by the sellers, so this service is usually free to you, the buyer. |