Buying A New Home2

What to Remember When Buying a New Home

There are basically 4 stages in buying a new home. To guide you on the right track, here are the new home buying tips you can use:

Initial Considerations and Planning

Know what you presently have. Know your financial standing such as your credit score, savings or assets, total debts, income, monthly expenses, and every financial detail that may affect your decision when buying a new home. Would all these agree that you are ready to take on a bigger financial obligation? Do you have enough money to pay for the down payment? Do you have a stable source of income of the succeeding years?

If you think there are problems with your finances, then settle them first before considering to buy a new home. If you know that you can take on this big obligation, then the next thing you should do is to decide what home is right for you.

List down all the specs you want for your new home. Take note of the lot area, floor area, type of neighborhood, house construction, number of rooms, number of floors, price, etc. Use these data when you are about to search for a home.


Now that you have an idea of a home you want to buy, it is time to search for it. Talk to several real estate agents and ask for what they can offer. Take note that you should not depend the whole home-searching process to one real estate agent. This is because s/he also has limited access to available new homes for sale or s/he may represent the seller which may give you possible drawbacks later on.

What you should do is to make sure that you get what you want by choosing the right real estate agent from your list that can help you find a new home to buy. Do not forget to negotiate what you terms want. You may also talk directly with the seller to ask for a better deal.

If you are the one who will design your home, do it in a way that will fit your personality. Simply put: personalize your home.

Searching does not limit to searching a home. It also covers looking for a home loan that applies to your need. Make sure that you shop around and get the best deal possible. Get the interest rate, points, and fees that would work for your advantage.


When you have found a real estate agent, a home loan, a seller, a perfect home or spot to build your home, and homeowner insurance, make sure that you negotiate. Ask for terms that are perfect for you. Ask a price that fits your budget. The key is: don’t stop until you get what you want. If any of these does not fit with what you want and what you are comfortable with, search further and do not rush.


This is the most crucial part of the whole process of buying a new home, thus, make sure that you follow the following:

Work on your approval requirements including your homeowner insurance.

Get help your housing counselors if you don’t know exactly what you have to do.

Get a home inspector.

Read every single detail of the sales contract. Make sure you understand it. This is the best time to make changes if there are any. Signed papers are final.