Lisa Nails

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Finding the right home is an exciting and sometimes frustrating process. Expectations, emotions, financials and other hurdles all must be balanced and overcome. With that in mind, Ben Stout has put together some thoughts, advice and tips to help make your home-buying experience and enjoyable one. Why Buy? Buying a home is one of the best investments you can make. Home equity remains the largest single savings vehicle for most Americans. In addition to the tax incentives of home ownership and the ability to tap into your home equity if the needs arises, buying a home is the wisest and most prudent financial investment for most people. Buy for Value. It is very important to buy a home that will go up in value. Slow, steady overall appreciation has been the rule during most of the nation's history, and many residential real estate investors became quite wealthy in that environment. They did so by very carefully analyzing the appreciation potential of their investment and they invested for the long term. Even if you plan on living in your home just a few years, you will want it to have gone up in value when you put it back on the market. Use a Realtor. Work with a Realtor. A Realtor can save you time and money with their expertise. Make sure you have a buyers' agent. Their job is to coordinate all aspects of your home buying process, as well as negotiate and find a home...all in your best interests. As a Realtor, I can find the best house for you. Develop a Long Term Relationship with a Good Realtor. When selecting your Realtor, look for one with experience in working with buyers, with knowledge of the neighborhood(s) you are considering, and who does not have a reputation for being "pushy". The purchase of a home is a serious long-term commitment on your part and a good agent will recognize that buyers need time and patience so they can satisfactorily sort out the myriad of factors involved in a purchase decision. Always have a Home Inspection Contingency in your Offer. Always have a home inspection contingency in your offer and always hire a professional home inspector to provide you with a written report, along with written "ballpark" estimates or ranges of repair costs. Don't rely solely on a friend or relative in the building trades; they may be an excellent carpenter but have no knowledge of electrical wiring. If the inspection turns up problems that weren't readily noticeable, you can use it for negotiating leverage to get the seller to make the repairs, provide you a commensurate price reduction, or cancel the contract if necessary. Get your Financing in Order right away. Start researching your mortgage options right away. Your Realtor can help advise you here too. You should be educating yourself while you are searching for your new home. You won't have enough time in the five days sellers normally allow for you to apply for a mortgage to get all you paperwork together. -Thoughtfully decide on the best kind of mortgage, who is offering the best rates, etc. before you need this information for a specific house. -Consider getting a contingent letter of approval for a loan, or an actual loan commitment prior to making an offer.

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