Buying - Ten Tips

Home sellers don't phone individual consumers with an offer to buy a maintenance free home with a wonderful mortgage. Home buyers have to find the gems themselves. Only by reading available materials, talking to friends and experts, and spending time looking at different homes, schools, and neighborhoods will most buyers end up with their dream home. Avoid the nightmares by learning how to buy and maintain a home.

2. Make a Plan and Get Pre-Qualified

Every important decision needs to be clearly thought out. Developing a home buying plan can help you focus on the important factors and organize the entire process. You may even want to use a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualifying helps you determine the home price you can afford and present you as a genuine prospect to the seller. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities. A thorough plan will save both time and money!

3. Value, Value, Value

The days of 10-30% annual appreciation have passed. Home buyers in the 1970's benefited tremendously from what seemed like ever appreciating home prices. Today's shopper is looking at slow growth while guarding against the possibilities of falling prices and rising interest rates that can dramatically affect home values. The classic rule of buying the worst house in the best neighborhood still applies. If you buy with an eye towards improvement, you can customize the home to fit your needs. The saying "make money buying a home, not selling one," should keep home buyers focused on the long-term importance of the purchasing price.

4. Create a Top 10 List of Amenities

When shopping for a home, list the features (acreage, fireplace, fenced in yard, new appliances, etc.) that are most important to you in deciding on which home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes and may keep you from buying a home on a whim --because of a circular stairwell -- that doesn't meet your fundamental requirements. Your top reason for buying a home should be the value you are getting. Four of your top 10 amenities should logically be sacrificed if an incredible value is available.

5. Find the Right Realtor

Realtors are professionals what offer experience, negotiating skills, and resources to help you find the right home. An experienced Realtor will have a solid understanding of the neighborhood you are buying in, a working knowledge of the Multiple Listing Service and the newer Internet Listing Services, and other home finding instruments. Find one that strives to understand you desires, has an intimate knowledge of proposed plans or past problems in the neighborhood you're searching, and prioritizes your home shopping needs. Also, remember that Realtors' fees are most often taken out of the commission paid by the seller. It's always a negotiating advantage to conceal your enthusiasm, ability to pay more, or emotional attachment to a deal. By maintaining an objective perspective, you can help the Realtor and the seller arrive at a reasonable price for the home.

6. Sign a Contract that Protects You

Make sure the contract you put on a house allows you to arrange financing, inspect the house, and negotiate any problems that you uncover. Ensuring the contract you sign will minimize potential legal battles will let you swim in your new pool with your family and neighbors instead of with the sharks.

7. Put Yourself in the Seller Shoes

You are about to make one of the most important decisions that will affect both your life and the life of the seller. If you take time to understand the reasons the seller bought the home, their reasons for selling, and the home improvements they have or have not made, you'll be in a better position to evaluate the home and negotiate a better deal. In the end, the home buying process excludes the professional and comes down to the individuals buying and selling the home. A closer look at the seller may help you in deciding whether and for how much to buy a particular home.

8. Develop a Mortgage Shopping Chart

There are 10,000 lenders competing for your mortgage business. The days of simply walking into the community bank and negotiating with the loan department manager are over. Today, you can apply for a loan over the Internet or even have a mortgage broker shop for your loan with hundreds of lenders. Create a chart that lists different types of loans, fees and at least five mortgage providers.

9. Get a Quality Home Inspection

Although it is hard to believe, more people pay for inspections before buying used cars then when making the biggest investment of their lives--their homes. Paying for a qualified home inspection before you buy a home isn't just spending a "little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs.

10. Hire a Skilled Settlement Title Company or Attorney

After you have jumped through the home shopping and finance hoops, the last difficult maneuver is at the closing table. You want an expert that will scrutinize all the documents you will sign and can be helpful in last minute negotiations. By the time you get to settlement, you have already pictured where your furniture will go, the best place to drink coffee on weekends, and the spot your newspaper will land each morning. A title company or lawyer may help you by remaining unemotional and level-headed when obstacles arise.



	Ten Tips on Buying a Home	CONTACT INFO
	Useful tips that can save you time and money!	Direct: 902.832.5994 info@alchiasson.com
	1. Research is the Key to Discover Home sellers don't phone individual consumers with an offer to buy a maintenance free home with a wonderful mortgage. Home buyers have to find the gems themselves. Only by reading available materials, talking to friends and experts, and spending time looking at different homes, schools, and neighborhoods will most buyers end up with their dream home. Avoid the nightmares by learning how to buy and maintain a home. 2. Make a Plan and Get Pre-Qualified Every important decision needs to be clearly thought out. Developing a home buying plan can help you focus on the important factors and organize the entire process. You may even want to use a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualifying helps you determine the home price you can afford and present you as a genuine prospect to the seller. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities. A thorough plan will save both time and money! 3. Value, Value, Value The days of 10-30% annual appreciation have passed. Home buyers in the 1970's benefited tremendously from what seemed like ever appreciating home prices. Today's shopper is looking at slow growth while guarding against the possibilities of falling prices and rising interest rates that can dramatically affect home values. The classic rule of buying the worst house in the best neighborhood still applies. If you buy with an eye towards improvement, you can customize the home to fit your needs. The saying "make money buying a home, not selling one," should keep home buyers focused on the long-term importance of the purchasing price. 4. Create a Top 10 List of Amenities When shopping for a home, list the features (acreage, fireplace, fenced in yard, new appliances, etc.) that are most important to you in deciding on which home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes and may keep you from buying a home on a whim --because of a circular stairwell -- that doesn't meet your fundamental requirements. Your top reason for buying a home should be the value you are getting. Four of your top 10 amenities should logically be sacrificed if an incredible value is available. 5. Find the Right Realtor Realtors are professionals what offer experience, negotiating skills, and resources to help you find the right home. An experienced Realtor will have a solid understanding of the neighborhood you are buying in, a working knowledge of the Multiple Listing Service and the newer Internet Listing Services, and other home finding instruments. Find one that strives to understand you desires, has an intimate knowledge of proposed plans or past problems in the neighborhood you're searching, and prioritizes your home shopping needs. Also, remember that Realtors' fees are most often taken out of the commission paid by the seller. It's always a negotiating advantage to conceal your enthusiasm, ability to pay more, or emotional attachment to a deal. By maintaining an objective perspective, you can help the Realtor and the seller arrive at a reasonable price for the home. 6. Sign a Contract that Protects You Make sure the contract you put on a house allows you to arrange financing, inspect the house, and negotiate any problems that you uncover. Ensuring the contract you sign will minimize potential legal battles will let you swim in your new pool with your family and neighbors instead of with the sharks. 7. Put Yourself in the Seller Shoes You are about to make one of the most important decisions that will affect both your life and the life of the seller. If you take time to understand the reasons the seller bought the home, their reasons for selling, and the home improvements they have or have not made, you'll be in a better position to evaluate the home and negotiate a better deal. In the end, the home buying process excludes the professional and comes down to the individuals buying and selling the home. A closer look at the seller may help you in deciding whether and for how much to buy a particular home. 8. Develop a Mortgage Shopping Chart There are 10,000 lenders competing for your mortgage business. The days of simply walking into the community bank and negotiating with the loan department manager are over. Today, you can apply for a loan over the Internet or even have a mortgage broker shop for your loan with hundreds of lenders. Create a chart that lists different types of loans, fees and at least five mortgage providers. 9. Get a Quality Home Inspection Although it is hard to believe, more people pay for inspections before buying used cars then when making the biggest investment of their lives--their homes. Paying for a qualified home inspection before you buy a home isn't just spending a "little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs. 10. Hire a Skilled Settlement Title Company or Attorney After you have jumped through the home shopping and finance hoops, the last difficult maneuver is at the closing table. You want an expert that will scrutinize all the documents you will sign and can be helpful in last minute negotiations. By the time you get to settlement, you have already pictured where your furniture will go, the best place to drink coffee on weekends, and the spot your newspaper will land each morning. A title company or lawyer may help you by remaining unemotional and level-headed when obstacles arise.	Additional Resources for Buyers: Featured Listings Guide for First Time Buyers Moving Tips Ten Tips on Buying a Home Mortgage Calculator FREE Subscription to "Home Connection" Find out more...
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1. Research is the Key to Discover