Finding the Right Home

Finding the right home goes beyond finding the right real estate agent and getting pre-approved for a mortgage. These two are very important things because a real estate professional is your link to finding the right home and a great source of information, and the right lender will provide a mortgage you can live with for the next 30 years. However, the goal should be to find the right style home at the right price in the right neighborhood for you.

A dream home might or might not be affordable at the current time; however, the right home takes into account affordability. It also has to be the right style, have a layout that is convenient, the right space and storage, and be located in an area that makes your life easier - being that your need for proximity to amenities or your need for solitude.

When looking for a home, especially the first time, you should look at your "financial house" first and determine your true affordability, and the changes in lifestyle that you will have to make - if any - and determine if you can live with this. An overview of true income and expenses must be done in order to avoid becoming "house poor." Many homeowners, who stretched their budgets to the maximum in order to buy a home, are disappointed when they have to take a second job or live under a tight budget to cover all the expenses related to home ownership. The joy of ownership turns into disappointment soon.

Before jumping in the waters of real estate, educate yourself and learn the basic terminology related to buying a home, mortgage, contract ... just a few basic terms that will help you understand the process better. You can find this information online free; there are tons of websites dedicated to educate the homeowner and first time home buyer. Never buy a home on emotion and excitement only. The more you educate yourself, the more you rely on information and the less you rely on emotions.

Familiarize yourself with the different styles of homes, and see if you favor one style more than the others. However, don't get hang up in a particular style - you may miss a perfect layout of a different style of home that could be "your perfect home."

Just as you will compare homes, compare neighborhoods, to find the neighborhood that best suits your needs. This information can be found online as well - crime rate, schools, ethnic groups, Don't count on your Real Estate agent to give you any information on these issues - it is against the law for him/her to talk about these issues with a client. See "Fair housing practices" online.

Finally, when you like a home and are ready to make an offer, let your agent do his/her job negotiating for you, and never skip a home inspection. A home inspection will uncover any real structural issues with the home, and will give you an idea of what needs to be fixed and the cost - it also serves as a tool for negotiating price.

These are just a few points to consider when looking for the right home.