You have finally made the big decision to buy a home. Whether you are buying for the first time, relocating, or just want more room, here are 10 tips (according to CNN) that you should consider in the process.

1. Don’t buy if you can’t stay put.

If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner – even in a rising market. When prices are falling, it’s an even worse proposition.

2. Start by shoring up your credit.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

3. Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you’ll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

4. If you can’t put down the usual 20 percent, you may still qualify for a loan.

There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a small down payment.

 

5. Buy in a district with good schools.

In most areas, this advice applies even if you don’t have school-age children. Reason: When it comes time to sell, you’ll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

 

6. Get professional help.

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

7. Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points — a portion of the interest that you pay at closing — in exchange for a lower interest rate. If you stay in the house for a long time — say three to five years or more — it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.

8. Before house hunting, get pre-approved.

Getting pre-approved will you save yourself the grief of looking at houses you can’t afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

 

9. Do your homework before bidding.

Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that’s about eight to 10 percent lower than what the seller is asking.

 

10. Hire a home inspector.

Sure, your lender will require a home appraisal anyway. But that’s just the bank’s way of determining whether the house is worth the price you’ve agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.

When purchasing a home, a home inspection can be a deal breaker for a buyer. Consider having your home inspected if you are selling your home. Don’t wait around for the potential buyer and hope that everything will turn out okay. According to HGTV, the seller of the home should really consider getting an inspection prior to listing their home.

1. Know Where You Stand
No one likes surprises when it comes to costly repairs. By having your home inspected prior to listing, a seller is able to set a reasonable. It also helps when negotiating, to know what exact issues one is facing when dealing with a potential buyer.
2. Avoid Knee-Jerk Responses
With an early inspection, a seller has the opportunity to research and compare prices for needed repairs. Instead of a few days before a buyer changes their mind, the seller widens their window of opportunity to research repair options. In addition, if an unpredictable repair is discovered, it allows more time and planning for the seller to strategize how they will go about fixing the problem.
3. Don’t Throw Money Down the Drain
An inspection will provide specific information in regards to repairs needed. Instead of guessing at the issue, have confidence in what needs fixed and respond accordingly. What may appear to be a malfunctioning toilet may really be a bigger issue. Spend your money wisely with a proper diagnosis first.
4. Give the Gift of Confidence
With a clear picture of what repairs need to be made, a seller is better able to negotiate with a prospective buyer. A pre-inspection helps inform a buyer what they are really getting in to. With the ability to provide a pre-inspection, a seller will build confidence with the buyer as there shouldn’t be any major surprises in store.

An inspection is an investment. While it may cost hundreds of dollars, it may just end up saving your more in the long run.

Are you interested in putting your house on the market? Has your house been listed with little movement? According to TLC, when marketing your home, there are five inexpensive tips you should consider to seal the deal!

1. De-Clutter

One of the first steps to take when selling your home, is to clean, clean, clean! While throwing trash away is helpful, don’t stop there. Simplify rooms by removing knickknacks and items that collect dust. An over-crowded room can be overwhelming. Remove extra furniture to open up the room for better traffic flow. You can store what you plan on moving that doesn’t need to be staged in storage boxes. This will help lighten the load in the moving process.

2. Spruce Up the Yard

Think outside the box, and share your attention with your landscaping. This is the first thing that sellers see, before they even step foot in your home. Add mulch and potted plants for a fresh look. In addition, patios and decks should be cleaned as though they are utilized regularly.

3. Add a Fresh Coat of Paint

Adding a fresh coat of paint, can transform the look of a room. Using neutral tones widens a space. While you may love your bright fuchsia bathroom, it can distract and deter buyers. Play it safe by going with neutral tones. Also, consider painting doors, window frames, stairwells, and baseboards to freshen things up.

4. Lighten Up

While some may think of changing lighting fixtures, start by simply cleaning the windows and screens. Use transparent window treatments to allow more light in. However, don’t ignore your fixtures. Make sure to fix any broken fixtures. Adding lamps can really boost the brightness and be inviting to a buyer.

5. Replace Hardware

An inexpensive way to modernize your home, is to change handles and knobs throughout the home. The kitchen is key as this is a primary focus of the home. If you have to be selective, spend your resources in the kitchen. The front door is also a great place to switch out or clean-up the knob or door knocker as this is the entry way to your home.