Buying a home | ListBean.com

Brainstorming on the new home :

make a list of needs vs. wants in your new home (Need- 2 bathrooms Want-jacuzzi tub)

do we want a fixer-upper or a ready to live in house?

make a list of deal breakers - presence of mold, no basement, only one bedroom etc ...

Budgets and money:

determine what you can realistically afford, keeping in mind interest rates may go up.

research different lending companies to find the best rates and best fit for you

get pre-approved for a mortgage

Details details:

decide whether to use a real estate agent or search privately

come up with questions to ask the sellers (why are they selling, has there been any water or other major damage etc...)

research neighborhoods with respect to crime, schools, public transport etc ...

attend several open houses to get a feel for the market in the area

find a house you like - make an offer

Seal the deal:

consult with a lawyer to draw up an offer to purchase

consider putting conditions on the offer such as bank approval and home inspection

set up final meetings with your lending company to arrange for transfer of funds

arrange for a house appraisal to make sure offer is in the right ball park