I'm buying a house soon. Help me not screw up.

[jthegreat]

I've found a mortgage loan and it's been pre-approved so the finances are basically all set up. I'm now more focused on the finding-the-best-house part.

Thanks in advance.

[highlife]

uhh...need alot more info...?

[Gunny Highway]

What is it you want to know?

[xadrez]

Getting pre-approved is the easy part. Just wait until you actually are in contract, youll be filling out paperwork for your mortgage for what seems like an eternity.

My one piece of advice is find a real estate broker who represents buyers, and have them set up appointments, negotiate, etc. Find someone reputable who you can trust that is recommended through people you know. I cant stress this enough.

[chesspain]

Find a real estate agent. They have special knowledge to help you locate...damn...what's it called...REAL ESTATE.

P.S. "Real estate" includes homes in which people live, and land on which the homes rest.

[Macdaddy Warsaw]

Not to be a tool of popular media, but freakonomics makes some good points (IMO) on real estate agents...

[wh1t3bread]

Do's:
- Know exactly what you want.
- Find a Good Realtor (if not using a realtor get a good lawyer to draw up your contract)
- Make sure to keep plenty of cash on hand for the closing and any repair/upgrade work you want to do
- Make sure you look around at alot of options
- Get the home inspected before purchasing

[jthegreat]

Let's see, more info...

I'll be 25 in 2 weeks. I'm single. I want something that's nice and will have good resale value in about 5-6 years. I'm concerned that if I get something too small, it will be harder to sell later. Also, newer houses are newer (obviously), but you get less for your money. I've seen a 1275 sq ft house for 145,570 that's brand new, and a 1600 sq ft hosue for 149,900 that's 4 years old. Are there any guidelines or simple rules for this kind of thing?

I'm sure there are little things here and there that could help/hurt me, but a lot of that is unpredictable. I guess mainly I'm just looking to not make a huge mistake. The area I'm buying in (outside Savannah, GA) is growing at a decent pace and should continue to do so since that's the only direction for things to expand.

[MrTrik]

Find a neighborhood that is a bit above your means. Not a lot above, just a bit. Now check out whatever houses are for sale there that would fall into the bottom 30% or so of value for that neighborhood.

Keep doing this until you find something you love in your price range.

[jthegreat]

Thank you for the enlightening post. Now please go away while I try to get meaningful responses.