Buyers Guide

Getting Started

The first step toward owning a home is to look at all the possible roads available to you. This first section covers the basics that concern all home buyers - from developing a house-hunting strategy (by figuring how much you can afford to spend, and how to line up your finances) to actually starting out on your search.

Where do I Start?

First things first. After you've browsed through the handbook awhile ,ask yourself why you want to buy a home. To stop paying rent? To start building equity? To have a place to call your own? To move up to a bigger home?

Next, list what kind of home you'd like and where you would like it to be. Be specific. Separate the "must haves" from the "want to haves". Rate both lists on a scale from 5 (high) to 1.

Think of yourself as zeroing in on a target, going from the general to the specific. Consider area (city, suburban, country); community (north, south, east or west side); neighborhood (older and settled or sparkling new; a particular school; recreational facilities; and other community services , such as transportation, day care, library, stores, entertainments.) Ask yourself how many minutes you're willing to commute to work.

Think about home styles ( 1-story, 2-story, townhouse, condominium, etc.). How much space do you need, and how much will you need in the foreseeable future (number of bedrooms, baths; kind of kitchen; total rooms)? Consider size and kind of property. Do you want a new home, an older one to fix up? Is the community a good area for resale? Someday you or your heirs will want to sell. Consider how long you expect to live in this particular home. Keep going with whatever you want to add.

Knowing exactly what you think you want makes house-hunting and later decisions easier when you get into the nitty-gritty aspects of buying. Many people like to start a "house-hunter's notebook" to keep their requirements clearly in mid and to compare specific properties. You'll find as you return again and again to your original thinking that your preferences become clearer - and your search becomes more efficient.

Exactly how will a real estate agent help me buy a home?

Brokers and agents make it their business to provide every service connected with your home search, from expert advice in the early stages though careful monitoring of your settlement (also "closing" or "escrow" ). The more closely you work with one agent, the better your needs are known and the more effectively you can be served - saving you time and possible grief.

All agents are bound by law to deal fairly and ethically with both buyer and seller. You benefit from an agent's services in many ways such as:

• Helping you set up a plaon of action through an analysis of your need and your finances, the current housing market, homes available in your price range, and lenders' mortgage options.
• Personally conduction your search to find neighborhoods and homes that fit your requirements
• Guiding you through the intricacies of making an offer on a home and presenting your offer to the seller.
• Providing leverage with solid negotiating skills from the start through end of escrow
• Ensuring you receive proper disclosure regarding all known facts about the home