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Buying a home ranks as one of the biggest personal investments a person ever makes. Being organized and in control will contribute significantly to getting the best deal possible with the least amount of stress.
It's important for buyers to anticipate the steps required to achieve their housing goals and to build a plan of action to get them there. Before being able to build a plan of action, buyers must take the time to lay the groundwork for the decision-making process.
The first and most-important step is to establish an upper limit on how much to pay. Buyers who don't know this information are only setting themselves up for future disappointment. Before doing anything else, they should find a lender and get a loan pre-qualification.
Getting a loan pre-qualification lets the buyer know more precisely how much he should be able to borrow at a given interest rate and about how much he can expect his monthly mortgage payments to be. This will help alleviate some of the anxiety that comes with buying a home. Once pre-qualified, a buyer avoids the frustration of finding a dream home only to discover later that it's out of his price range.
Second, a buyer needs to determine where he or she wants to live and what may be the best location for his family. Things to consider include:
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Convenience for all family members
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Proximity to work and/or schools
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Crime rate of the neighborhood
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Quality of the local schools
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Local transportation options
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Recreational opportunities in the area
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Types of housing in the neighborhood (e.g., single-family homes, new homes, apartment buildings, condominiums, townhomes, etc.
This web site contains a great deal of information to help buyers discover these facts. Use the "Relocation Info" section (in the navigation bar at left) to research school information, crime data, economic facts and more.
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