What are some key advice tips or anything when looking into buying your first home?

You must make sure its within your price range, enough room, good location, good condition, make sure the seller is reliable, and make sure you look at all the house.What are some key advice tips or anything when looking into buying your first home?
My 2 cents..





1. I am not sure about your location. But still real estate prices are abnormal in many locations and I am not sure whether the current rates are sustainable. People might argue ';what if prices go further up'; ? But realistically, if price increase further people may not have purchasing power to buy and stagnancy will result.





2. Ensure that house doesnt become a liability for you month on month. In other words, determine the EMI you can pay every month based on fixed pay (and not based on variable pay, bonuses and other anticipated incomes). Also ensure that EMI is not over 30 - 35% of your monthly take home income.





3. Determine your interests, budgetary constraints, prefered locations, appreciation potential etc before starting to hunt houses.





4. For most of population, the first home they buy could as well be the only home. Hence make sure that it would be good enough for you for another 20 years or so.What are some key advice tips or anything when looking into buying your first home?
Depends If you are going to live for awhile and the sell it.





If you are going to live in it for a cuple of years you want something nice and low maintenance so make sure there is enough room and that there is no rot or anything. Make sure it is in good location one that you like and one that you can afford.





If you are just staying there for a while just buy some were cheap and do it up a little too try to make a profit.
Read this comprehensive guide to First Time Home Buying. http://wefixrates.com/Home_Loans_101.htm


It has great information.
Make sure you use a Realtor who has been located in the general area you are looking for a good long time.





Make sure you use a larger, reputable Real Estate Company.





Make sure you do not use the in-house financing Real Estate Companies provide, or the local bank, as both of these places will overcharge you considerably.





Do shop around for financing at a couple different places, and do NOT fell afraid using someone who is out of town or on the net. The information provided as a source below is an option. Many times, their rates are lower than the competitions.





Do not over borrow. Find out from a Mortgage Broker what you are allowed to borrow, and then decide on a number much lower than that, one which will allow you to purchase a home worthwhile to live in and which will not clamp you at the wrists for the payment.





Good Luck. Get in touch if you have any questions.
research the land, is it dry, if it rains and rains and rains does the cellar flood, does the driveway or front yard flood. how is water supplied to the house, is it town or city water or is it your own well water. how old is the well, has it ever gone dry and had to be redug. look at the foundation, inside and out inside look for staining half or quarter of the way up the wall. flooding test. how is it heated. is the heating system up to date or is it soon in need to be replaced. the electrical work in the house, is it up to code in all parts of the house, not just some. look for a bowing in the roof, it means that it has weakened in certain parts from water damage, and should be attended to before you move in. check the eves of the house for rotten wood due to water damage. check the quality of the windows. are they new or just plain old windows that come with drafts in cold season. it could cost you a lot more to heat if they are not quite good enough.look at the interior, with an eye for any repairs that have made, and ask the reason for them. make sure the rooms are large enough to be called rooms and not closets. closets, make sure there is an ample supply of space to store things. make sure the kitchen is in good shape, the faucets plumming etc. make sure to have more than 1 bathroom amd make sure they are sufficient to serve their purpose. after you have toured the house have a professional give an opinion on its quality and liveability, and something very important, is it of such quality that if you sell it you will not have to redo the whole thing. will you have no trouble with a sale. meet the neighbors if possible to avoid a bad situation, after you have signed papers to own. if it is being built for you check every new project that is done in the house to make sure that it is done correct. good luck