posted on March 19, 2018

Get the most out of your money with these handy home-buying tips.

Avoid a Border Dispute

Knowing precisely where your property lines are may save you from a potential dispute with your neighbors. Also, your property tax is likely based on how much property you have, so it is best to have an accurate map drawn up.

Stalk the Neighborhood

Drive by the house at all hours of the day to see what’s happening in the neighborhood, to make sure it is something you can deal with on a daily basis, to find out how far it is to the nearest grocery store, schools and other services because it affects the value of your home in a very big way.

The Secret Science of Bidding

Bidding should be based on two things: what you can afford and what you really believe the property is worth. Opening bid should be fair and reasonable and not totally offend the seller. Look at what other homes have gone for in that neighborhood also sizing up a house on a price-per-square-foot basis is a great equalizer.

Give Your House a Physical

Hire a home inspector. It’ll cost but could end up saving you thousands. A home inspector’s sole responsibility is to provide you with information so that you can make a decision as to whether or not to buy and you can use it as a bargaining tool for lowering the price of the home.

You’re Buying a House – Not Dating It

Buying a house based on emotions is just going to break your heart. Going with your emotions is being obsessed with the paint color or the backyard. It’s an investment, so stay calm and be wise.

Keep Your Money Where It Is

It’s not wise to move your money around three to six months before buying a new home. Lenders need to see that you’re reliable so that they can get you the best loan possible.

Get Pre-Approved for Your Home Loan

Getting pre-approved means a lender has looked at all of your financial information and they’ve let you know how much you can afford and how much they will lend you. Being pre-approved will save you a lot of time and energy so you are not running around looking at houses you can't afford.

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