1. Stay put once you buy. Commit yourself to your new home for at least a couple of years before making your next move.
2. Money matters. If you are considering a mortgage, shore up your credit and get a copy of your credit report.
3. Get pre-approved. Save yourself the time and grief of looking at houses you cannot afford.
4. Determine how large your mortgage can be. Explore different loan options to determine what is best for you.
5. Decide what (and where) you want to buy. Prioritize your needs (location, schools, amenities).
6. Consider your resale value. For example, even if you do not have school-aged kids, proximity to a strong school district is a good thing.
7. Do your homework. Make a bid based on sales trends of similar homes in the neighborhood.
8. Calculate the hidden costs. Property taxes, insurance, maintenance and association fees can affect your budget over time.
9. Don’t be house poor. Double and triple check to be sure you have not maxed yourself out on the cost of your home and left nothing for maintenance, insurance and taxes.
10. Get help. Consider working with a REALTOR and professional lender to get the most for your money. It pays to have someone helping to look out for your best interests.
