Home Buyer's Guide
1. Getting Organized
2. Mortgage Financing
Pre-Approval, Appraisal, Commitment
3. Searching for a Home
4. Offer & Negotiations
5. Home Inspection
| || || || || ||7. Move-in|
Step 3a. Determine Your Home Buying Preferences
Searching for the right property is more than just riding around looking at properties.
The last thing you want to do is waste time looking in areas or at buildings
or homes that don't really fit your requirements.
You also, need to be prepared for the highs and lows of home hunting. Homes don't always measure up to their press. Remember that any
of the property listing information you see is written by the Seller's Agent or the Seller themselves. That's another reason to have your own
You need to:
approximate price range
and the full monthly payment involved (principal, interest, property
taxes, condo maintenance fees, property insurance, etc.),
residential style, construction and size,
floors, floor plan and general flow,
needs, if any,
number of rooms, bedrooms, bathrooms (full & half),
amenities - patio/deck, terrace, or balcony/pool/yard,
special needs (elevator,
1 floor layout, etc.),
systems - heating/air conditioning
- electric, gas, oil.
you can afford.
your financing options (30 year, ARM, interest only, etc.).
down payment (% or $ down).
what level of monthly expenses you are comfortable with (versus what you can afford).
|Search the real estate market, including:
and filter properties to determine how they meet your preferences.
Consider drive-bys of properties to eliminate
those that are in poor locations and which may have misleading descriptions.
Schedule properties for showing.
View properties and determine which measure up to what
[Back to Step 2]
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