Step #3: Selecting

This section explores the basics of actually finding your dream home. It looks at everything that goes into finding the right house and neighborhood for you. This is the fun section. You will learn about the various types of houses and learn how to evaluate neighborhoods. There is a lot more that goes into buying the right house than finding one with the right number of rooms. This is going to be your home. You want to make the best decision you can. The Step #3: Selection section enables you to have a basic knowledge of house hunting.

Here's an outline of what's in store for you in this section: How do You Spell Relief? Weigh Your Options . . . Taxes and Fees Term to Know Identify What YOU Want 'Home' to Be Association Controls Think & Do Reminders Choosing a Home that's Right for You Endless Potential. Assess It! Checking Out the Homes Closing Home Comparison Chart Act Quickly

Welcome to the Neighborhood

Whaddya Know?

So. You're ready to buy a home. You've learned how much you can afford and have gone through the pre-approval and loan process. Now you want to start the fun stuff. You want to see some houses, right? This is where the quest really begins. You'll be taking the cook's tour of houses and neighborhoods and begin talking to real estate professionals. Naturally, it's a given that everyone's searching for their "perfect" home. That's the fun part of a house hunt. En route, however, you'll need to match your "dream home" with what's actually available within your budget territory.

One of the most important, yet often overlooked, factors in choosing a house is choosing the right neighborhood. Finding and falling in love with a house is easy. Finding the right home, in the right neighborhood, at the right price is NOT so easy.

Know Your New 'Hood, if Not Your New Neighbors

Before you buy any house, you need to consider who your new neighbors will be.

• Do you really want to live next door to a rock band whose practice sessions extend into the wee hours of most mornings?
• Could you tolerate living adjacent to a commercial zone that rumbles into action at six a.m.?
• Do you want to live somewhere that you can't even see your nearest neighbor?

These are all valid questions when searching for a home. Before you can look at specific houses, you need to refine, define and limit your search to specific neighborhoods.

Location is everything. Wherever you buy a home, your neighborhood is going to greatly affect your daily life, which in turn affects your property value and happiness. It is easy to let a great home color your perceptions of the neighborhood. But a beautiful home could turn out to be a bad investment if it's located in a neighborhood with poorly performing schools, far removed from grocery stores, gas stations and other services.

The Acid Test

When it comes to choosing the right house, make sure the neighborhood really fits before you sign on the dotted line. Your quality of life and your home's property value depend on it. How do you really know the neighborhood is a good place to live with strong property values? What separates the good, the bad, and the ugly? Let's get down to the nitty gritty and study the factors that distinguish a good neighborhood from a less desirable one.

Next we'll discuss some factors to consider when buying a house...

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