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Now is a good time to get into the real estate market. Interest rates are very reasonable – even compared to the last several years. Home prices are down thanks to a shift from a seller’s market to a buyer’s market. There are just a couple of DON’Ts that you need to remember before you buy your first home.

DON’T be swayed by the way the house is staged. Always try to picture it completely empty. Very few houses include the furniture and accessories so you have to look beyond that. Walk through the house and try to picture you and your family living in it every day.

DON’T let emotions decide where, when and how you must buy. Walk away from the house for a couple of days. Look at some other comparable houses (in the neighborhood or in the price range). See what else is available to you for your money and get away from the emotions of the purchase. Keep in mind that houses are staying on the market longer so you have more time to make your choice.

DON’T use the computer to make this vital decision. Although the new online walk-thru’s that are available over the internet can be great for a first viewing, that should not be your only viewing. If you have to travel a long distance to look at houses then have your agent set up several viewings and go to the location to see them. There is nothing as valuable as walking through the house yourself.

DON’T buy a home that hasn’t been inspected – no matter how nice the owners are or the real estate agents have been. It is always worth the investment of having a professional inspect your house. They could save you thousands of dollars or keep you from making a monumental mistake.

There are so many things you need to consider before you leap into the real estate market. These few tips will help you begin your transition to home owner with the least possible problems.


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Posted Thursday, May 15th, 2008 at 3:41 pm Comments 0
Filed Under Category: Basic Finances, Real Estate
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