Get the most out of your money with these handy dwelling house-buying tips from HGTV's Buying & Selling.

Buying Secret #10: Proceed Your Money Where It Is

It's not wise to make any huge purchases or motion your money around 3 to 6 months before buying a new home. Y'all don't desire to take any large chances with your credit contour. Lenders demand to see that yous're reliable and they want a complete newspaper trail and then that they tin can go you the best loan possible. If you open new credit cards, amass too much debt or purchase a lot of big-ticket items, you're going to have a hard fourth dimension getting a loan.

Buying Secret #9: Get Pre-Approved for Your Dwelling house Loan

There'due south a large deviation between a buyer being pre-qualified and a buyer who has a pre-approved mortgage. Everyone can get pre-qualified for a loan. Getting pre-approved means a lender has looked at all of your fiscal information and they've let you know how much you tin beget and how much they will lend you lot. Being pre-approved will salve you a lot of time and free energy so y'all are not running effectually looking at houses you can't beget. It also gives you the opportunity to shop around for the best deal and the best involvement rates. Do your enquiry: Acquire about junk fees, processing fees or points and make certain there aren't any hidden costs in the loan.

Property Brothers - Home Ownership and Remodeling Tips vii Videos

Buying Undercover #8: Avoid a Border Dispute

It's absolutely essential to go a survey done on your property so yous know exactly what you're buying. Knowing precisely where your belongings lines are may salve you from a potential dispute with your neighbors. Also, your property tax is probable based on how much property you lot take, and so it is best to accept an authentic map drawn up.

Buying Secret # 7: Don't Try to Fourth dimension the Market

Don't obsess with trying to fourth dimension the market and effigy out when is the best time to buy. Trying to anticipate the housing market is impossible. The best time to buy is when you notice your perfect house and you tin afford information technology. Existent estate is cyclical, information technology goes up and it goes down and information technology goes back up again. So, if you endeavour to wait for the perfect time, yous're probably going to miss out.

Buying Secret # vi: Bigger Isn't Always Amend

Everyone's drawn to the biggest, most cute house on the cake. Simply bigger is usually not better when it comes to houses. There'south an sometime adage in real manor that says don't buy the biggest, best house on the block. The largest house only appeals to a very small audience and you never want to limit potential buyers when you go to re-sell. Your home is only going to go up in value as much equally the other houses around you lot. If yous pay $500,000 for a home and your neighbors pay $250,000 to $300,000, your appreciation is going to be limited. Sometimes information technology is best to is buy the worst house on the block, because the worst house per square foot always trades for more the biggest firm.

Buying Secret #5: Avoid Sleeper Costs

The difference betwixt renting and homeownership is the sleeper costs. Near people just focus on their mortgage payment, only they also need to exist enlightened of the other expenses such as holding taxes, utilities and homeowner-association dues. New homeowners also demand to be prepared to pay for repairs, maintenance and potential property-tax increases. Make sure you upkeep for sleeper costs then you'll be covered and won't take chances losing your firm.

Buying Secret #4: Yous're Buying a Business firm – Not Dating It

Buying a house based on emotions is just going to break your middle. If you autumn in love with something, yous might terminate up making some pretty bad financial decisions. There'due south a big difference between your emotions and your instincts. Going with your instincts means that y'all recognize that you're getting a slap-up business firm for a proficient value. Going with your emotions is existence obsessed with the paint color or the backyard. Information technology'due south an investment, so stay calm and be wise.

Buying Secret #iii: Give Your House a Physical

Would you buy a motorcar without checking under the hood? Of grade yous wouldn't. Rent a home inspector. Information technology'll cost well-nigh $200 but could end up saving yous thousands. A home inspector'southward sole responsibility is to provide you with information so that you can brand a conclusion as to whether or non to purchase. It's actually the only mode to get an unbiased third-political party opinion. If the inspector does find whatever issues with the dwelling house, you tin can utilize it equally a bargaining tool for lowering the cost of the home. It'southward better to spend the money up front on an inspector than to find out afterwards you accept to spend a fortune.

Ownership Underground #2: The Secret Science of Bidding

Your opening bid should be based on 2 things: what you can beget (because you don't want to outbid yourself), and what y'all actually believe the property is worth. Make your opening bid something that's fair and reasonable and isn't going to totally offend the seller. A lot of people retrieve they should go lower the first time they make a bid. It all depends on what the market is doing at the time. You need to look at what other homes accept gone for in that neighborhood and you want to become an average price per foursquare foot. Sizing up a house on a price-per-square-human foot basis is a slap-up blaster. Also, see if the neighbors accept plans to put upward a new addition or a basketball courtroom or tennis courtroom, something that might backbite from the property'due south value down the road.

Today, and so many sellers are behind in their property taxes and if you accept that valuable information it gives you a great card to negotiate a practiced deal. To detect out, go to the county clerk's office.

Sellers respect a bid that is an oddball number and are more likely to take it more seriously. A nice round number sounds like every other bid out at that place. When you get more than specific the sellers will think you've given the offer careful idea.

Buying Secret #1: Stalk the Neighborhood

Before you buy, get the lay of the land – drop by morning noon and night. Many homebuyers accept become completely distraught considering they idea they found the perfect home, only to notice out the neighborhood wasn't for them. Drive past the business firm at all hours of the day to see what'due south happening in the neighborhood. Do your regular commute from the firm to make sure it is something you can bargain with on a daily ground. Discover out how far information technology is to the nearest grocery shop and other services. Even if you don't have kids, research the schools because it affects the value of your habitation in a very large way. If yous purchase a firm in a skillful schoolhouse district versus bad school commune even in the same town, the value tin can be afflicted every bit much as 20 per centum.