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List three steps in buying a home. What are some important points to consider in your purchase?
Three steps in buying a home include having a home inspection done, obtaining pre-approval for financing, and obtaining comparable sales prices (comps) in the area you want to buy in order to make sure you're not offering too much. [ There are many things to consider when making a decision about which home to purchase, including the quality of the neighborhood or other surrounding area, the
quality of the schools in the area if you have children, any maintenance issues the home you're interested in may have, the age of things like the roofing, the water heater and the furnace. Pay attention to things like common noise in the area (ie. if the home is in a flight path, near a railroad crossing). Consider how much of a monthly payment you can afford when it comes to obtaining a loan. ]
Expert answered|ramkitten|Points 387|
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Asked 8/19/2010 9:12:58 AM
Updated 8/19/2010 10:09:40 AM
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I can give you 11:

Step 1, Get Your Finances in Order
Step 2, Get Familiar with the Mortgage Industry
Step 3, Get Pre-Approved for a Mortgage
Step 4, Determine Your Wants and Needs
Step 5, Learn to Work with Real Estate Agents
Step 6, Start Searching for a Home
Step 7, Handle Pre-Offer Tasks
Step 8, Make an Offer
Step 9, Home Inspections and Other Tests
Step 10, Avoiding and Correcting Last Minute Problems
Step 11, You're on the Way to Closing

Important tips can be found on this link as well:
Added 8/19/2010 10:09:40 AM
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other costs that may need to be factored in when comparing the cost to rent versus buying?
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Updated 8/19/2010 1:33:26 PM
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When you buy a home, if you have a mortgage, you have to factor in the interest on that loan, mortgage insurance, and points. You also have to consider the cost of household maintenance. While some maintenance costs do fall under tenant obligation when renting, maintenance on the building and much of the interior maintenance will be paid by the landlord.
Added 8/19/2010 1:33:26 PM
It is not uncommon for car loans to be financed up to 72 months which will result in lower monthly payments. Is this necessarily a good option? Why or why not?
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Updated 8/19/2010 1:30:15 PM
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Financing a car for up to 72 months is a good option for those who cannot afford the higher monthly payments on a shorter-term loan, but on the down side, you'll pay more over the life of the loan.
Added 8/19/2010 1:30:16 PM
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