1.
Decide
to
buy.
Although
there
are
many
good
reasons
for
you
to
buy
a
home,
wealth
building
ranks
among
the
top
of
the
list.
We
call
home
ownership
the
best
“accidental
investment”
most
people
ever
make.
But,
we
believe
when
it
is
done
right,
home
ownership
becomes
an
“intentional
investment”
that
lays
the
foundation
for
a
life
of
financial
security
and
personal
choice.
There
are
solid
financial
reasons
to
support
your
decision
to
buy
a
home,
and,
among
these,
equity
buildup,
value
appreciation,
and
tax
benefits
stand
out.
Base
your
decision
to
buy
on
facts,
not
fears.
-
If
you
are
paying
rent,
you
very
likely
can
afford
to
buy
-
There
is
never
a
wrong
time
to
buy
the
right
home.
All
you
need
to
do
in
the
short
run
is
find
a
good
buy
and
make
sure
you
have
the
financial
ability
to
hold
it
for
the
long
run
-
The
lack
of
a
substantial
down
payment
doesn't
prevent
you
from
making
your
first
home
purchase
-
A
less-than-perfect
credit
score
won't
necessarily
stop
you
from
buying
a
home
-
The
best
way
to
get
closer
to
buying
your
ultimate
dream
home
is
to
buy
your
first
home
now
-
Buying
a
home
doesn't
have
to
be
complicated
-
there
are
many
professionals
who
will
help
you
along
the
way
2.
Hire
your
agent.
The
typical
real
estate
transaction
involves
at
least
two
dozen
separate
individuals-insurance
assessors,
mortgage
brokers
and
underwriters,
inspectors,
appraisers,
escrow
officers,
buyer's
agents,
seller's
agents,
bankers,
title
researchers,
and
a
number
of
other
individuals
whose
actions
and
decisions
have
to
be
orchestrated
in
order
to
perform
in
harmony
and
get
a
home
sale
closed.
It
is
the
responsibility
of
your
real
estate
agent
to
expertly
coordinate
all
the
professionals
involved
in
your
home
purchase
and
to
act
as
the
advocate
for
you
and
your
interests
throughout.
Seven
main
roles
of
your
real
estate
agent
A
Buyer's
Real
Estate
Agent:
-
Educates
you
about
your
market.
-
Analyzes
your
wants
and
needs.
-
Guides
you
to
homes
that
fit
your
criteria.
-
Coordinates
the
work
of
other
needed
professionals.
-
Negotiates
on
your
behalf.
-
Checks
and
double-checks
paperwork
and
deadlines.
-
Solves
any
problems
that
may
arise.
Eight
important
questions
to
ask
your
agent
Qualifications
are
important.
However,
finding
a
solid,
professional
agent
means
getting
beyond
the
resume,
and
into
what
makes
an
agent
effective.
Use
the
following
questions
as
your
starting
point
in
hiring
your
licensed,
professional
real
estate
agent:
-
Why
did
you
become
a
real
estate
agent?
-
Why
should
I
work
with
you?
-
What
do
you
do
better
than
other
real
estate
agents?
-
What
process
will
you
use
to
help
me
find
the
right
home
for
my
particular
wants
and
needs?
-
What
are
the
most
common
things
that
go
wrong
in
a
transaction
and
how
would
you
handle
them?
-
What
are
some
mistakes
that
you
think
people
make
when
buying
their
first
home?
-
What
other
professionals
do
you
suggest
we
work
with
and
what
are
their
credentials?
-
Can
you
provide
me
with
references
or
testimonials
from
past
clients?
3.
Secure
financing.
While
you
may
find
the
thought
of
home
ownership
thrilling,
the
thought
of
taking
on
a
mortgage
may
be
downright
chilling.
Many
first-time
buyers
start
out
confused
about
the
process
or
nervous
about
making
such
a
large
financial
commitment.
From
start
to
finish,
you
will
follow
a
six-step,
easy-to-understand
process
to
securing
the
financing
for
your
first
home.
Six
steps
to
Financing
a
Home
-
Choose
a
loan
officer
(or
mortgage
specialist).
-
Make
a
loan
application
and
get
preapproved.
-
Determine
what
you
want
to
pay
and
select
a
loan
option.
-
Submit
to
the
lender
an
accepted
purchase
offer
contract.
-
Get
an
appraisal
and
title
commitment.
-
Obtain
funding
at
closing.
4.
Find
your
home.
You
may
think
that
shopping
for
homes
starts
with
jumping
in
the
car
and
driving
all
over
town.
And
it's
true
that
hopping
in
the
car
to
go
look
is
probably
the
most
exciting
part
of
the
home-buying
process.
However,
driving
around
is
fun
for
only
so
long-if
weeks
go
by
without
finding
what
you're
looking
for,
the
fun
can
fade
pretty
fast.
That's
why
we
say
that
looking
for
your
home
begins
with
carefully
assessing
your
values,
wants,
and
needs,
both
for
the
short
and
long
terms.
Questions
to
ask
yourself
-
What
do
I
want
my
home
to
be
close
to?
-
How
much
space
do
I
need
and
why?
-
Which
is
more
critical:
location
or
size?
-
Would
I
be
interested
in
a
fixer-upper?
-
How
important
is
home
value
appreciation?
-
Is
neighborhood
stability
and
priority?
-
Would
I
be
interested
in
a
condo?
-
Would
I
be
interested
in
new
home
construction?
-
What
features
and
amenities
do
I
want?
Which
do
I
really
need?
5.
Make
an
offer.
When
searching
for
your
dream
home,
you
were
just
that-a
dreamer.
Now
that
you're
writing
an
offer,
you
need
to
be
a
businessperson.
You
need
to
approach
this
process
with
a
cool
head
and
a
realistic
perspective
of
your
market.
The
three
basic
components
of
an
offer
are
price,
terms,
and
contingencies
(or
“conditions”
in
Canada).
Price-the
right
price
to
offer
must
fairly
reflect
the
true
market
value
of
the
home
you
want
to
buy.
Your
agent's
market
research
will
guide
this
decision.
Terms-the
other
financial
and
timing
factors
that
will
be
included
in
the
offer.
Terms
fall
under
six
basic
categories
in
a
real
estate
offer:
-
Schedule-a
schedule
of
events
that
has
to
happen
before
closing.
-
Conveyances-the
items
that
stay
with
the
house
when
the
sellers
leave.
-
Commission-the
real
estate
commission
or
fee,
for
both
the
agent
who
works
with
the
seller
and
the
agents
who
works
with
the
buyer.
-
Closing
costs-it's
standard
for
buyers
to
pay
their
closing
costs,
but
if
you
want
to
roll
the
costs
into
the
loan,
you
need
to
write
that
into
the
contract.
-
Home
warranty-this
covers
repairs
or
replacement
of
appliances
and
major
systems.
You
may
ask
the
seller
to
pay
for
this.
-
Earnest
money-this
protects
the
sellers
from
the
possibility
of
your
unexpectedly
pulling
of
the
deal
and
makes
a
statement
about
the
seriousness
of
your
offer.
6.
Perform
due
diligence.
Unlike
most
major
purchases,
once
you
buy
a
home,
you
can't
return
it
if
something
breaks
or
doesn't
quite
work
like
it's
supposed
to.
That's
why
home
owner's
insurance
and
property
inspections
are
so
important.
A
home
owner's
insurance
policy
protects
you
in
two
ways:
-
Against
loss
or
damage
to
the
property
itself
-
liability
in
case
someone
sustains
an
injury
while
on
your
property
The
property
inspection
should
expose
the
secret
issues
a
home
might
hide
so
you
know
exactly
what
you're
getting
into
before
you
sign
your
closing
papers.
-
Your
major
concern
is
structural
damage.
-
Don't
sweat
the
small
stuff.
Things
that
are
easily
fixed
can
be
overlooked.
-
If
you
have
a
big
problem
show
up
in
your
inspection
report,
you
should
bring
in
a
specialist.
If
the
worst-case
scenario
turns
out
to
be
true,
you
might
want
to
walk
away
from
the
purchase.
7.
Close.
The
final
stage
of
the
home
buying
process
is
the
lender's
confirmation
of
the
home's
value
and
legal
statue,
and
your
continued
credit-worthiness.
This
entails
a
survey,
appraisal,
title
search,
and
a
final
check
of
your
credit
and
finance.
Your
agent
will
keep
you
posted
on
how
each
if
progressing,
but
your
work
is
pretty
much
done.
You
just
have
a
few
preclosing
responsibilities:
-
Stay
in
control
of
your
finances.
-
Return
all
phone
calls
and
paperwork
promptly.
-
Communicate
with
your
agent
at
least
once
a
week.
-
Several
days
before
closing,
confirm
with
your
agent
that
all
your
documentation
is
in
place
and
in
order.
-
Obtain
certified
funds
for
closing.
-
Conduct
a
final
walk-through.
On
closing
day,
with
the
guidance
of
a
settlement
agent
and
your
agent,
you'll
sign
documents
that
do
the
following:
-
Finalize
your
mortgage.
-
Pay
the
seller.
-
Pay
your
closing
costs.
-
Transfer
the
title
from
the
seller
to
you.
-
Make
arrangements
to
legally
record
the
transaction
as
a
public
record.
As
long
as
you
have
clear
expectations
and
follow
directions,
closing
should
be
a
momentous
conclusion
to
your
home-searching
process
and
commencement
of
your
home-owning
experience.
8.
Protect
your
investment.
Throughout
the
course
of
your
home-buying
experience,
you've
probably
spent
a
lot
of
time
with
your
real
estate
agent
and
you've
gotten
to
know
each
other
fairly
well.
There's
no
reason
to
throw
all
that
trust
and
rapport
out
the
window
just
because
the
deal
has
closed.
In
fact,
your
agent
wants
you
to
keep
in
touch.
Even
after
you
close
on
your
house,
you
agent
can
still
help
you:
-
Handle
your
first
tax
return
as
a
home
owner.
-
Find
contractors
to
help
with
home
maintenance
or
remodeling.
-
Help
your
friends
find
homes.
-
Keep
track
of
your
home's
current
market
value.
Attention
to
you
home's
maintenance
needs
is
essential
to
protecting
the
long-term
value
of
your
investment.
Home
maintenance
falls
into
two
categories:
-
Keeping
it
clean:
Perform
routine
maintenance
on
your
home's
systems,
depending
on
their
age
and
style.
-
Keeping
an
eye
on
it:
Watch
for
signs
of
leaks,
damage,
and
wear.
Fixing
small
problems
early
can
save
you
big
money
later.