Here is a list of things to keep in mind when buying a home.

– I believe business stock sold to buy a new home has benefits. Check it out at least to get more info.
– Remember the 20 percent down payment
– Don’t buy beyond your finances.
– You don’t need a big home as a new couple
– Make sure monthly note is affordable.
– Test all the lights, plugs, faucets etc.
– May want to consider renting fora few years to get the experience of home managements and until your life settles down.
– Look for cracks in the foundation/sidewalks
– Look for houses with equivalent square footage, and a similar number of bedrooms, bathrooms and amenities. The prices on those homes should be comparable to how your house is priced.
– Check for moisture under the sink
– Closing costs can range anywhere from 3-to-6 percent of the cost of the loan.
– It’s often useful to over-estimate on your costs.
– A credit report is the detailed history of a consumer’s borrowing history, and a credit score is a value assigned to the consumer based on credit history details.
– Home inspection checklists are available at home inspection websites such as American Home Inspector Directory.
– Burning candle can help you find air drafts.
– Hiring a good home inspector is a vital step in the home-buying process.
– Need money for furniture after mortgage.
– Federal Housing Administration, or FHA, is there specifically to help first-time buyers.
– Consider costs for home improvements after purchase
– Foreclosures are a great way to go for a first-time buyer.
– Consider cost of monthly utilities as a major part of choosing where to live.
– With loan pre-approval, a homebuyer gets a good idea of how much money he realistically qualifies for.
– Make sure the buyer knows his rights as a borrower.
– A fixed rate means that no matter the change in market interest rates, your mortgage payment will remain the same month after month and year after year.

Have something to add to the list? Please do so in the comment section of this blog.

Sources:
http://home.howstuffworks.com/real-estate/buying-home/10-financial-factors-to-consider-when-buying-a-home.htm
http://get.smarter.com/qa/business-finance/homebuyer-s-checklist-222fcbec2e910db3?qo=questionPageSimilarContent
http://home.howstuffworks.com/real-estate/buying-home/what-should-be-on-home-inspection-checklist.htm
http://lifestyle.howstuffworks.com/family/parenting/adult-children/10-tips-for-helping-child-buy-first-home.htm
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