Tuesday, September 04, 2007

How To Buy A House

As a first-time homeowner, I knew it would be a little bit tricky for me to find the perfect home. Nevertheless, I was pretty sure that I could figure out how to buy a house without any outside help. There are experts in every field trying to tell you basic common sense things that you can figure out yourself. Why would how to buy a home be any different? Buying a house couldn't be more complicated than buying anything else – or so I thought. I had figured that the only difference was that houses cost more money, so you have be more careful about your purchase. Boy was I in for as a surprise!
Just learning how to price a house is months and months of work. Realtors are trained to represent the property in the best way possible. Learning how to buy a home means learning how to ask the right questions. Although they don't have to disclose many of the facts about the house, they do have to answer any direct questions honestly. Buying a house means asking about any repairs that have been done, any problems with plumbing, electricity, mold, or infestations, when the house was built, what renovations have been done – you get the idea. And that is only one part of how to buy a house. There is much more to it than that.
You see, when you are buying a house there are many things to consider. Because homes are so expensive and require mortgages, you need to be thinking about economics as much as about comfort. Your house is not only your home, but your investment. You need to buy it in an area that you are sure is going to continue to appreciate. You have to be willing to live in your home for at least a couple of years or else it isn't worth it. Buying real estate is one of the most complicated business transactions you will ever have to make – perhaps the most complicated.
The bottom line is there are no hard and fast rules to how to buy a house. In my case, the whole process completely overwhelmed me. Fortunately, I had a friend who knew a lot about real estate and was willing to help me go house hunting. If you aren't in this position of having a friend who knows how to buy a house, you had better head down to the library and content yourself with the prospect of hours and hours of research. It is worth it if you are buying your first house.