Buy Home

Couple of data pointers while buying home.

1. Ultimately after purchasing home, will you, your spouce and family members be HAPPY. Have this as the key guidance during the entire purchase process.
2. I wouldn't recommend not even putting a 5% down payment.
3. Buying agent and selling agent take 3% each. So, asking for 94% of the asking/listing price is not irrelevant. - Or if this property is not your dream home, you SHOULD ask for less than 94% of the asking price.
4. Try to by pass the agents - for example, in new homes, try to deal with the seller directly.
5. Loans (First Mortgage and second Home Equity Line of Credit) are again products and YOU ARE the customer. So, don't hesitate to look for bargain and negotiations.
6. Don't ever buy more than your means. It is no win scenario gamble - especially if this is your first home where you plan on living.
7. Buying home on the last few days of making offer / contract is purely 'mind game'. Numbers are just numbers. Stay focused on the final target and see what makes you HAPPY.
8. Buying home is like buying a stock. It goes up and down. Some one thinks they want to sfel because there are other uses for that money - while the buyer thinks his money will do better in this stock.
9. When you are in the market, the prices are set also by the personal feelings of the buyers/sellers currently in the market. If you feel better about venturing, go for it. If not, stay back.
10. Make sure the reccuring income is relatively stable - not much change/impact negatively.
11. Have some reserve on purchase of home. You might need incidental expenses.