1. Before looking at homes, determine how much you can spend without becoming a slave to a house payment. Even though a lender may be willing to extend more credit, only you know your situation.
2. Get a mortgage preapproval letter. You’ll need it when you find a home and make an offer.
3. Go for location first and house second. It’s better to buy a smaller home in a good area than a bigger home in a less desirable area. Read more
Shopping new constructions is similar to buying a car. The dealer attracts you with a low advertised price, but when you get there you find it’s a stripped-down model. The salesperson then pressures you to upgrade with features no buyer can live without. Read more
Of course, not all home buyers want to become fixer-upper mavens or even like the idea of moving into a home that has previously been occupied. These buyers prefer to start fresh with new construction and the latest floor plans. Read more
For instance, Ron and Ellen went the fixer-upper route when searching for their first home. For several months they had been seriously looking in an area near a small college when a Realtor told them about a new listing. Read more
Sometimes home buyers want to find a fixer-upper and they are willing to build sweat equity. Indeed, buying a run-down house and fixing it up as a way to get in on the cheap is a dream of many. It can happen successfully, but bear in mind that the waters are shark infested. Read more