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Tips help avoid home buying mistakes
By Pamela Reeves, Scripps Howard News Service
- Buying a house can be a scary, emotional experience,
especially the first time. People often make mistakes,
realizing too late that they didn't get what they really,
wanted.
- Real estate agents see these mistakes all the time. This
list, primarily from Prudential Real Estate Affiliates,
is designed to help you avoid such errors.
- Before starting a home search make a wish list and a
reality list of what you want in a house. "Consider
your current and future lifestyle and think about what
kind of life you want to lead in this house,"
Prudential says. Set priorities. A big sunny kitchen? Two
stories with a walkout basement?
- Don't buy the first house you fall in love with,
"especially if you are a first-time buyer."
"Use reason, not emotion, to avoid missing obvious
problems with the house. You may end up with the house in
the end, but look at others to compare." Even if you
have a specific type of house in mind, be open to other
ideas. On the other hand, don't waste time looking at
houses you cannot afford. See a mortgage lender before
you start your search or shortly after. That way, you'll
have a good idea of what you can afford. At the same
time, look at different kinds of mortgages to see which
best fits your budget and time line.
- A lender will tell you how much you can borrow to pay for
a house. But you should consider all the other costs of
home ownership and your own spending habits.
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