| Make a Choice |
No matter what your situation, take the time
to really think about which home is best for you. Use the information
you've collected to compare your first choice with other close
candidates. Although it may be tempting to move quickly, you'll
want to cover all the bases before you commit to a purchase.
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Weigh the trade-offs
House No. 1 may have all the features you want but the price
is high and the seller is unmotivated. House No. 2 may need
significant cosmetic work, but has all the other features you
want, including the right price. Expect to go back and forth
while you're debating your choice.
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Resale, resale, resale
There's an old real estate adage: "Buy to live and to sell." You
may think you're going to be in your new home for the duration
of the mortgage, but chances are you're not. Give sufficient
weight to the home's potential resale value , and make sure
you have all the facts. A planned expressway a block away could
drastically change your home's resale value 20 years from now. |
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Money, money, money
Make sure that your choice is within your price range and that
you can obtain financing. |