1- Buy a house priced no more than 2.5 times you annual salary. This is a realistic guideline to ensure that you are not overextending yourself on your mortgage. Even with this guideline though.... use your inner barometer of what you feel comfortable paying each month with a mortgage.
2- Buy a house in an excellent school district, even if you don't have children. This will increase the resale value, as many home buyers do have children.
3- Before you buy, hire your own home inspector to detect any potential problems. This report could be a negotiating factor on the price of they home. You'll want to do this before your due diligence date is expired on your purchase agreement to get maximum negotiating power. Talk to your realtor (or mine...*wink*) to get more information on this. A good realtor will be able to refer you to an inspector they trust to work hard for your best interest.
4- Getting pre-approved on a mortgage will give you more negotiating power with the seller. (I promise I'm not just saying that because I want you to come and see me soon.... but I would love that too.) Getting a pre-approval let's the seller know that you are serious about this transaction and are ready to move ahead quickly. That is joy to their little selling hearts.
5- Get a realistic view of the neighborhood before you buy. Drive from your potential home to work and shops at "key" hours to evaluate traffic and make sure you know what it will be like for your commute.
If you or anyone you know is getting ready to buy a home, pass this along to them along with my name and number. I'd be happy to discuss the first few steps of buying a home....whether this is your first home..... or your 15th investment. -Sheri Joi ,e mail, sherijoi1972 at gmail dot com
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