1. Find a real estate agent that’s
simpatico. Homebuying is not only a big
financial commitment, but also an emotional
one. It’s critical that the agent you chose
is both skilled and a good fit with your
personality.
2. Remember, there’s no “right” time to buy,
any more than there’s a right time to sell.
If you find a home now, don’t try to
second-guess the interest rates or the
housing market by waiting. Changes don’t
usually occur fast enough to make that much
difference in price, and a good home won’t
stay on the market long.
3. Don’t ask for too many opinions. It’s
natural to want reassurance for such a big
decision, but too many ideas will make it
much harder to make a decision.
4. Accept that no house is ever perfect.
Focus in on the things that are most
important to you and let the minor ones go.
5. Don’t try to be a killer negotiator.
Negotiation is definitely a part of the real
estate process, but trying to “win” by
getting an extra-low price may lose you the
home you love.
6. Remember your home doesn’t exist in a
vacuum. Don’t get so caught up in the
physical aspects of the house itself—room
size, kitchen—that you forget such issues as
amenities, noise level, etc., that have a
big impact on what it’s like to live in your
new home.
7. Don’t wait until you’ve found a home and
made an offer to get approved for a
mortgage, investigate insurance
availability, and consider a schedule for
moving. Presenting an offer contingent on a
lot of unresolved issues will make your bid
much less attractive to sellers.
8. Factor in maintenance and repair costs in
your post-home buying budget. Even if you
buy a new home, there will be some costs.
Don’t leave yourself short and let your home
deteriorate.
9. Accept that a little buyer’s remorse is
inevitable and will probably pass. Buying a
home, especially for the first time, is a
big commitment, but it also yields big
benefits.
10. Choose a home first because you love it;
then think about appreciation. While U.S.
homes have appreciated an average of 5.4
percent annually over from 1998 to 2002, a
home’s most important role is as a
comfortable, safe place to live.
