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Before you start looking for a house there are certain things you need to do. Sell
your old house, for example, might be one of them. But, there is a list of others
you might not think of, at least not immediately.
Know what you can afford
There is a big difference between what you want to afford and what you can afford.
This is a difference that needs to be distinguished before you even begin your housing
search. Make a budget and figure out what you can pay on a monthly basis (don't
forget to add in things like utilities and Home Owner Association fees). Knowing
what you can afford helps assure your search won't be futile: you don't want to
spend three weeks looking at houses that are well out of your budget.
Know where you want to live
Obviously, this is something that needs to be decided before you even move: spontaneity
and relocation don't exactly go hand in hand. But, knowing where you want to live
isn't limited to a state or city. Research neighborhoods, communities, job opportunities,
and school districts and find a few areas where you could see yourself and, more
importantly, areas where you wouldn't ever want to live.
Have a wish list
You don't have to be a Barbie doll to have a dream house; we all have an ideal home.
Unfortunately, not all of us have the financial means to make this ideal home a
reality. Still, that doesn't mean the dream is over right away. Instead of giving
up things you want, make a wish list. Perhaps you would love a sun room or have
always wanted a big backyard. Maybe you have to have a finished basement or a Jacuzzi
tub. Making a wish list, and specifically seeking them out, can help at least some
of your wishes come true.
Know what you are willing to do without
After you've made your wish list, a time will come when you must decide what you
can do without. You may think that you absolutely have to have a gigantic master
bedroom, but when that gigantic master bedroom comes with a ridiculously high price
tag, you may find that a smaller bedroom will suffice. Still, there might be things
you aren't willing to compromise on. If you've got five kids and must have a large
backyard for their swing set, their trampoline, and their tether ball set, then
don't be too quick to remove your desire. If something is that important, keep on
looking for it.
Know your rights
Unless you are a one man show - financing a move, and looking for a house entirely
on your own - other people are going to be involved: realtors, loan officers, housing
inspectors, professional movers. Whenever other parties are involved, there is always
a chance you may be taken for more than you should. For this reason, before your
housing search begins, know your rights. Know how to tell when a home loan interest
rate is much too high, know what to expect from your realtor and know what to do
when the moving fan with all of your most precious possessions takes a wrong turn
and ends up in Siberia.
Jennifer Jordan is an editor and staff writer for
www.thecatskillfarms.com. A real estate investor, she is up-to-date on the
latest trends of the housing market.
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