Thread: Questions When Purchasing First Home

hi political guru see the following threads for your answers

realestateforum.com/showthread.php?t=11623&highlight=important+thing+b uying+house

realestateforum.com/showthread.php?t=12473&highlight=important+thing+b uying+house

still you dont find your answers then consult any agent around your area.

thanks

Originally Posted by Political_Guru

I'm getting ready to purchase my first home. What is the most important thing someone buying their first house needs to know? Are there any questions someone should ask that people often overlook that come back to haunt them?

The single most important factor in buying a home is location. Period.

You should buy something today that someone would buy (or rent) from you tomorrow. If it doesn't meet that criteria, don't buy it.

In order to best accomplish this, work with a good buyers agent. One who knows the ropes and who knows the better areas of your town.

Focus on your short, medium and long term goals and if your purchase doesn't suit those goals, don't buy....unless your goals are so skewed that a brilliant purchase would conflict.

Don't buy for yourself, buy for the next person. Sounds weird, but you need to think re-sale. Statistically, you won't be there long and getting out is more important than getting in!

Ask yourself how long you will be there. Regardless, the fellow above is right. Location is everything.

I guess the most basic questions are:

• The best location
• Budget
• Property condition and status
• Mortgage and taxes

IF you haven't found your answer, please do consult a realtor near you. It is always better to ask to avoid loss when investing.
TIPS on buying a house by Jenie0109

Top things to know in Buying a House
1. Don't buy if you can't stay put.
2. Start by shoring up your credit.
3. Aim for a home you can really afford.
4. If you can't put down the usual 20 percent, you may still qualify for a loan.
5. Buy in a district with good schools.
6. Get professional help.
7. Choose carefully between points and rate.
8. Before house hunting, get pre-approved.
9. Do your homework before bidding.
10. Hire a home inspector.

The very first thing you should do is talk to 3 or 4 local lenders and find out how much you can afford.

The worst thing you can do is fall in love with a neighborhood or house you can't afford. If this happens then everything you can afford will look like crap.

Thank you all so much for the info. You definitely opened my eyes to alot of things I hadn't thought of which led to more information I had not had before.

No problem! Good luck to you and congratulations!