Shop for a home Next >>
You are now ready to shop for a home. Please, do not shop for a home, the same way you shop for a pair of red shoes. You want to buy a pair of red shoes. You go into a mall and find a shop that sells them. Fortunately, they are exactly what you want, color, size, design and all. Do you buy them right away? NO! You try to find out other shops that sells the same shoes until you are totally exhausted and then come back to the very first shop and buy the very first shoe that you had seen.
Rings a bell? Come on!
Shopping for a home should be opposite of buy a pair of red shoes. If the very first home is the one you like, which of course meet all your expectations, put a contract on it right away. Homes get sold pretty fast. If you delay, someone else may out smart you or beat you in the bidding game! Before you go shopping for a home, learn about what to consider when you go home shopping.
Choose a real estate agent: A real estate agent is knowledgeable about the real estate laws and practices. As the saying goes, when you are sick, you go to a doctor and not prescribe your own medicine to yourself. Seek a professional help. Keep the following rules in mind when selecting an agent:
- Demand Experience: At least 2 years of experience buying and selling homes.
- Look for Commitment: Make sure you agent is able to work with you full time.
- Conduct Interview: Interview at least 3 agents before you hire one. Then make brief fact-finding calls to determine which of the agents on your list are full time, experienced and either hold the GRI designation or are at least working aggressively toward it.
- Consider Education: While there are numerous advanced real estate education courses available, the only technical and competence based program available nationwide is the Graduate, REALTORS® Institute (GRI) series, which is administered under the direction of the National Association of REALTORS®
Make a wish list: Do you know what kind of home you are looking for? Here is a check list that may come handy before you go on a home hunt.
Home shopping checklist: When you make a tour of each home, you may want to make a checklist about various properties of that home. Download it here.
Homes for sale: Several federal agencies have properties to sell. In fact, HUD sells both single family homes and multifamily properties. Check them out - one might be just what you're looking for!
Fixer uppers - home purchase and repair programs: Whether you want to fix a faucet or add a new addition to your home, you need to know the facts and the pitfalls of home improvements. Here are some sources that can help. Here are some of the loan programs available to you. Fixer uppers are particularly a good choice if you are buying a home with your cash. Instead of buying a "move-in" ready home which will cost you a fortune, consider buying a distressed home and fix it up yourself. You may end up saving a lot of money this way, but of course, there is some work involved in doing so. | 
