1. 10 Things To Remember When Buying A Home
1. Only buy if you are going to stay in put for a while
If you think, or know, that you will not be staying in that house for more than a year or two, buying a
house is a waste of time. Buying and selling a house costs money, and in the end, you will probably
lose money. Buying a house is best for those who will in place for a while, thus giving the houses
value to rise.
2. Fix up your credit score
For most people, buying a house requires getting a mortgage. Getting a mortgage requires having a
good credit score. Prior to buying a house, review your credit report and be sure that all is correct. If
you find any mistakes, have these sorted out before trying to get a mortgage.
3. Look for something affordable
Generally, people say to follow this rule; buy a house costs equal to 2.5 times your yearly salary.
Keep in mind; this is just a general rule. There are other factors you must consider, and this is just a
rule of thumb. There are plenty of online calculators to give you a very precise idea of your costs.
4. Even if you cannot put a 20% down (which is standard), do not worry
Many lenders, both private and public, have mortgage plans that require a very small down payment
(as low as 3 percent of the houses price sometimes).
5. Look for a home in an area with good schools
If you have children, this will be very important for their future. Even if you do not have children, living
in area with good schools is important; reason being that it greatly increases the value of the home.
This will benefit you when it comes time to sell again.
6. Receive help from an expert
Do not try to do it on your own. Have a good agent. Even though people think they can do the whole
process themselves, this is usually not true. An agent will make the job ten times easier on you.
7. Know the difference between rate and points
For those choosing a mortgage, they often have the choice of paying a part of the interest which is
usually paid at closing, at the beginning. This will allow for them to have a lower interest rate. For
those staying in a house for a long time (3 or more years), the points option is usually best, as it will
save you money over time.
8. Get pre-approved
Getting pre-approved will make the house searching process much easier. You will know what you
can afford and what you can't afford. Pre-approval is not the same as pre-qualification. Being pre-
approved has to do with your income, debt, & credit history.
9. Research before making an offer
Look at the trend of sales in the neighborhood before making an offer on a home. If houses in the
area selling for 7% less than their listing price, you should start off by bidding around 11% lower than
the listed price. This is just an example. Your agent can give you a better idea of what a reasonable
bid is for your situation.

2. 10. Have a home inspector visit the house
Many people often forget to do this, and in the long run, find themselves having to spend a lot of
money on house problems which were caused by the previous occupants. A home inspector will
check for any problems that may require you to pay to repair in the long run, and usually a
compromise will be made before you move in.
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