Buying a home can be a major decision that changes the course of your life, so it's one you probably have thought about for long time. There are many secrets to buying a home, and a few of these tips can help you make a good purchase.
First, if you plan to buy in the future, don't do anything that could damage your credit between now and when you go to find a mortgage. You want to show lenders that your credit is in good shape and that you're dependable.
Next, get a survey done on any property you're interested in buying. That way, you can avoid annoying border disputes later. Also make sure to get a home inspection to make sure everything is as it appears. The last thing you want to find out is that you spent hundreds of thousands of dollars on a home filled with termites.
Don't get emotional about the purchase. Think practically, and know that your instincts are usually right. Do you think you might not be able to afford the slightly larger home's mortgage payments in the future? You're probably right, so going with the lower-cost home is a better idea. Think about the feelings you get when you look at the home, but also remember that this is a business deal, and it's one you need to make work for you now and in the future.
Finally, know how to negotiate. Bidding helps you tell a seller what you think the home is worth and what you're willing to pay. Don't be afraid to offer an unusual amount; it doesn't have to be rounded off, and it will catch the seller's attention even if it's too low.
In any case, your attorney or a legal professional can help you understand the purchase you're about to make, from the fine print of the loan to the contracts you sign to finalize the deal. With the right support, you can make the right decision.
Source: HGTV, "10 Best-Kept Secrets for Buying a Home," accessed Dec. 28, 2016