Home Sweet Home - How To Make All The Right Moves With Your Home

How To Make All The Right Moves With Your Home
Like the early settlers of this great nation, most of us yearn for a corner of earth to call our own. Yet we aren't satisfied with just owning a piece of sod -- we want a roof over our heads and indoor plumbing to boot. And why not? If a home is where your heart is, let's explore the ownership thing.

The quest for home ownership--as old as the hills as it may be--is a reasonable goal for most hardworking Joes and Joannas. There are many options (from ramshackle shack to California rambler) in the spectrum of homeownership, and a number of ways to finance the one that fits your dreams. So whether you're a first-time home buyer, looking to upgrade your digs or ready to bail, you've come to the right place to get a thumbnail sketch of the art of buying or selling a home.

If all you want to do is crunch some mortgage numbers, check out our Mortgage Payment Calculator and Home Affordability Calculator, which helps you factor in things like homeowner's insurance, association dues and real estate taxes.

7 Quick Tips To Guide Your Home-buying Journey:
Put the word out. Let people know what you're looking for in a home. From the dry cleaner to the gas station attendant, everyone knows someone who owns a home and might be ready to sell.
Get your finances in order. We've mentioned it before -- a good credit history (at least two years' worth) and prequalification can help you land a home faster (and before the other guy can steal it away from you).
Shop for a loan. The business of home mortgages is highly competitive. Examine the points, fees and rates of different lenders to get the best loan you can. One caveat: If your credit is shaky, you may not be able to be as choosy as you'd like.
Zero in on what you want. Don't hit the pavement until you know what you're looking for. You can waste a lot of your time (and your real estate agent's) by looking at two stories when you know you're looking for a walkout rambler. Make a list of features you won't negotiate on, and carry it with you.
Look for the diamond in the rough. A home in a good neighborhood that needs a little spit and polish is probably a better value than a charmer on the freeway and next to the airport. Look beyond weeds and broken windows to find a deal, or be willing to pay more for a home in "move-in" condition.
Pay for a home inspection. Here's an investment that's worth every cent. A home inspection done by a professional can help you avoid the harsh reality of a leaky roof or a faulty furnace. When an inspection turns up something like this, the seller can be asked (or even required) to make repairs before the sale can go through. Or you may decide to back out altogether.
Don't let your heart rule. Try to be objective in your home buying decisions. What we mean is, try to ignore the simmering potpourri that reminds you of growing up with ma's good cooking. Is the roof in good shape, the neighborhood sound and the price right? Cinnamon sticks are a dime a dozen (or thereabouts). Like a good book, you need to dig in to find the true value of a home (or uncover its flaws).