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Advantages of Buying

Although the cost of purchasing a home generally increases over the years, once you purchase a particular home, the bulk of your housing costs are not exposed to inflation -- if you use a fixed-rate mortgage to finance the purchase.

Home Finance 101

Homeowner's insurance is mandatory. When you purchase a home, your mortgage lender won't allow you to close the purchase until you've demonstrated that you have proper homeowner's insurance.

Preparing to Shop

Good neighborhoods, like beauty, are in the eyes of the beholder. For example, being near excellent schools is important if you have young children. Personal preferences aside, all good neighborhoods have the following characteristics.

Your Real Estate Team

A good agent can be the foundation of your real estate team. A good agent's negotiating skills and knowledge of property values can save you thousands of dollars.

Making an Offer

If you follow these basic negotiating guidelines, your deal will practically take care of itself. This explains why to conduct all negotiations face-to-face, why you must everything in writing, and why to make sure that deadlines are met.

Getting a Mortgage

Let's start with the basics. A mortgage is nothing more than a loan that you obtain to close the gap between the cash you have for a down payment and the purchase price of the home that you're buying.

Inspections and Insurance

A home's physical condition greatly affects its value. You'd feel horrible if you paid top dollar for a home that you thought was in great shape and then discovered after you bought it that the house was riddled with expensive defects.

Closing the Deal

From an accounting standpoint, the most important piece of paper is the final closing statement that you get on the day that your property actually closes.

After You Buy

Feeling a squeeze in the budget when you buy a home is perfectly normal. After all, your housing expenses are probably higher than before. In addition to taking a lean-and-mean approach to the rest of your spending, here are some other suggestions.

Buying FAQs

Here to answer all the questions you may have.