If you approach the home buying process intelligently and with confidence, you are much more likely to emerge with a house you'll be proud to call home.
Approaching the task of buying your next home can be overwhelming. There's so much to consider.
much house can I afford, and how can I find the best loan? Where will I
come up with a down payment, and how much will I need? Should I buy a
new or resale home, and which will go up in value? Should I use an agent
or look at homes on my own?
And these questions are
just the beginning. Buying a home is one of the largest financial
transactions in your lifetime, yet we don't teach about it in school.
You're just supposed to pick it up along the way.
as you start down this road, let me give you a little advice. Here are
the two most important things to remember no matter where you are on the
road to ownership:
1. You can and should understand
everything that is happening in the home buying process. There is
nothing, and I mean nothing, that is so complex that it can't be easily
explained to anyone with average intelligence, and you've got more than
that. Just because we don't apply for a thirty year mortgage once a week
doesn't mean we have to take the first one that comes along. You'll
need to learn some new terms, apply some new concepts and take the time
to understand what you're getting into. If anything happens at any point
in the process that doesn't make sense to you, simply demand a full and
complete explanation. If it still doesn't make sense, seek help from
someone you trust like your CPA, your banker or maybe your friendly
online real estate columnist.
2. In the world of real
estate sales, YOU are the most important person in the entire process.
It's easy to think that everyone else carries more weight than you. The
agent talks fast and has an answer for everything. The lender may
decline your loan application, and on and on. But the truth is that you,
the buyer, are the one person in this transaction that makes it all
happen. If you decide to not buy, the entire process comes to a grinding
halt. So flex your consumer muscle and take command of this process.
Surround yourself with a team of professionals that you have confidence
in and make them work for you.
If you plan from the
beginning to approach the home buying process intelligently and with
confidence, you are much more likely to emerge at the end of the day
with a house you'll be proud to call home, and the knowledge that you
made the right decision.