First Time Buyers
Shopping for your home is exciting but also potentially frustrating -- and time consuming. The prospective homeowner can look at an average of 15 houses before buying one. You may need to look at even more before you find the house that fits your way of life and your income. Take all the time you need. It's a big decision!
Think Ahead
Before you launch your search, what house features are important to you?
What are you looking for in terms of:
- Neighborhood
- Yard size
- Proximity to work and school
- How much fixing up are you willing to do
Explore
If you've lived in a community for a while, you may know which neighborhoods
you like. If you're new to town:
- Get out and look around -- and not just through your windshield.
- Walk around
- Talk to people
- Get a feel for the neighborhood
- Come back at different times, day and night
When you're ready to start searching for a specific house, you can take the do-it-yourself approach of checking:
- Web sites
- Newspaper ads
- For-sale signs and
- Word-of-mouth leads
You might find it easier to use a real estate agent who has access to a multiple listing service.
Zeroing In on Your Choices
After looking at a few houses, the features of each will start to blur
together in your memory. Come prepared to take notes. Look the house over
inside and out, and ask about the things you can't see, such as plumbing
and wiring.
If you decide this is the house of your dreams, the real estate agent or your attorney can help you write an offer to purchase. You will accompany your offer with earnest money, a deposit to show the seller you're serious about wanting to buy.
Once the seller accepts the offer, it's legally binding -- with contingencies, that must be met before the contract takes effect. Common contingencies include the buyer getting financing and the results of a professional house inspection.
