Compare homes point by point before you commit to one
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No matter what your situation, take the time to really think about which home is best for you. Use the information you've collected to compare your first choice with other close candidates. Although it may be tempting to move quickly, you'll want to cover all the bases before you commit to a purchase.
- Weigh the trade-offs
House No. 1 may have all the features you want but the price is high and the seller is unmotivated. House No. 2 may need significant cosmetic work, but has all the other features you want, including the right price. Expect to go back and forth while you're debating your choice.
- Resale, resale, resale
There's an old real estate adage: "Buy to live and to sell." You may think you're going to be in your new home for the duration of the mortgage, but chances are you're not. Give sufficient weight to the home's potential resale value , and make sure you have all the facts. A planned expressway a block away could drastically change your home's resale value 20 years from now.
- Money, money, money
Make sure that your choice is within your price range and that you can obtain financing.
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