 |
ONE - Think About Your Needs
DO...
• Know why you're making the decision to buy versus rent.
• Determine your specific needs as a first-time buyer. How much room do you need? Are you concerned about schools? Commuting time? Proximity to family and friends? Is this a starter home, or are you likely to be here in five or ten years? Are you buying at the height of or bottom of a market? What financial resources do you have, or must you obtain, to purchase your home?
• Educate yourself about the types of homes available, and determine which one will meet your needs: detached single-family home, multi-family home, condominium or co-op. Understand the differences inherent in one type of property over another. Conduct thorough research, and ask specific questions about the type of property that you choose.
DON'T...
• Believe everything everyone tells you. The experiences and wisdom of realtors, buyer's brokers, other buyers, family and friends are important, but be sure to weigh them against your specific needs, tastes, interests and financial resources. Remember that the decision and responsibility are ultimately are yours, and the control should be, too.
• Make assumptions about the role of each professional in the real estate process. Clarify each professional's role beforehand and ask lots of questions. Buyer-agents and others can advocate for you, but they come at a cost.
NEXT
Domania's First-Time, First Steps is available in a printer-friendly version.
You must have Acrobat Reader to view and/or print this document.
DOWNLOAD IT! PRINT IT!
> Sellers Checklist
> Owner's Checklist
> Moving Checklist
> Private Mortgage Insurance (PMI) FAQs
> Property Tax FAQs
> Appraisal FAQs
> Glossary
|
|
