Choosing a Home

Choosing a Home

You've done your homework and seen what the market has to offer -
now it's decision time.

Choosing which home to purchase is the critical phase of your search
- make sure the house is right for you before deciding to buy.
Consider your wish list, the location, and the price when making your
final decision.

Consider the Neighborhood

You've already researched the community (we hope!) in general terms
- now it's time to take one last look at the neighborhood to make sure
it's the right place for your family. Consider your route to work, the
local shopping - anything that affects your lifestyle and daily routine.

Check the Details

Make sure the house is right for your family and lifestyle. Will your
furniture work out? Is the yard big enough? Does the layout work well
for your family's routine? Check through your wish list and notes to
make sure you're not forgetting anything.

Research Multi-Family Units

There are some specific concerns involving multi-family housing. If
you're seriously considering this type of home make sure that you do
the research so you know what you're getting. Review our multi-family
housing checklist if you are planning to buy a condo or townhouse.

Don't Buy if You're Not Sure

Don't buy a home out of frustration or impatience - this is a major
investment and it should be treated as such. If the market is strong or
your standards prove to be unreasonable you may need to revise your
expectations before continuing the search.

Be Wary of Overheated Markets

Think carefully before getting into a bidding war or buying a home with
a hyper-inflated price. Extreme sellers' markets can develop when
national and local economic conditions are exceptionally strong. During
these periods prices can rise dramatically and buyers can be pressured
into taking aggressive - and often irresponsible - actions. Be careful,
however, as these strong periods are inevitably followed by severe
corrections. Homeowners buying at peak periods often find themselves
with substantial paper losses - a condition that can take years of
normal appreciation to correct.