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Step 4:
Look At Homes
Some 6 million new
and existing homes are sold each year. There's no shortage of
housing options, but with so many choices the challenge becomes
finding the property which best meets your needs. |

Buyer's Guide
Step 4: Look At Homes
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The housing market is
complicated because the stock of homes for sale is always in flux. If it
were possible to have a complete list of every home for sale at this very
moment in a given community, such a list would become obsolete within
seconds as new homes become available and properties now for sale are put
under contract.
In effect, buyers are
looking at a moving target in a marketplace that is never static. Because
of this, it is important to know as much as possible about the choices in
preferred markets, and the way to do that is by working closely with a
local REALTOR® who has a good "lay of the land."
What are you looking
for?
A home is more than just a collection of bedrooms and bathrooms. Several
properties -- each with four bedrooms, three baths, and the same price --
may well represent radically different designs, commuting distances, lot
sizes, tax costs, interior dimensions, and exterior finishes.
Each of us is different
and so it's important to list the features and benefits you want in a
home. Consider such things as pricing, location, size, amenities (extras
such as a pool or extra-large kitchen) and design (one floor or two,
colonial or modern, etc.).
Next, it's important to
consider your priorities. If you can't get a home at your price with all
the features you want, then what features are most important? For
instance, would you trade fewer bedrooms for a larger kitchen? A longer
commute for a bigger lot and lower cost?
Lastly, consider your
needs in several years. If you'll need a larger home, maybe now is the
time to buy a bigger house rather than moving or expanding in the future.
If you expect your income to increase, perhaps you should consider a more
expensive home financed with a loan program where monthly payments
increase in the future.
Where should you look?
All neighborhoods and communities have a special nature that gives them
identity and value. One community may be well known for historic homes
while another offers both suburban living as well as easy access to
downtown office areas.
REALTOR.com ®
offers about 1.4 million homes online. By any standard, it's the largest
source for property information online or off.
How do you find a
house?
Some buyers like to search
REALTOR.com® by
looking at listings on the basis of location or price; others prefer to
have local REALTORS® suggest properties; and many buyers prefer both
approaches.
Regardless of your
choice, it's important to target your search. By using basic measures such
as general location and affordability, you can refine your search and
focus on homes that offer the most desirable features.
As a guide, you should
maintain a file with information on each of the homes you like. You can
print out listing pages from
REALTOR.com® and
then make notes for each one -- what you like, questions, REALTOR® contact
data, etc.
NEXT STEP:
Choose A Home
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