Buying a home is for many of us, the biggest financial transaction we’ll ever undertake. It’s a stressful and often daunting process, particularly for those who’ve never bought a home before. As such, buyers can do with all the help they can get in order to ensure things go smoothly and they can buy their ideal home at a reasonable price.
A new article by Michelle Higgins in the New York Times provides all the advice buyers need to do just that. Higgin’s guide, “How to Buy a Home”, takes into account each step in the home buying process, including looking at whether or not homeownership is right for you. After all, not everyone is in the financial position to buy, while for others who can afford it, it may not make financial sense to do so if renting works out cheaper.
The guide also looks at organizing your finances in order to buy a home. It shows potential buyers how to assess their spending, clean up their credit scores, decide how much they can afford to spend on a home, and also get pre-approved for a mortgage.
Part three of the guide looks at the home search, covering aspects such as choosing a neighborhood, comparing available homes, visiting homes on the market and also hiring a real estate agent.
Finally, the guide covers the art of making an offer on a home, which is essential in today’s seller’s market. It shows buyers how to analyze their local market to make sense of property values in the area, how to negotiate and win in bidding wars, and finally, how to finalize all the paperwork involved.
We think Higgin’s guide to buying a home is one of the most comprehensive around the web. The fact that it’s up to date and takes into consideration current factors like the extremely low inventory of homes for sale in most markets makes it an essential read for anyone looking to buy a home later this year.