Quote:
Originally Posted by Laneco
When moving to a new area, I would strongly recommend renting for a while before committing to buying.
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I second this, and all the advice here.
Before signing in blood:
You should already be researching Zillow for long-term trends, and Trulia for comps.
You should compare tax rate$.
You should know the average prices of every area, and what is to be considered 'high' or 'low' for a basic starter home.
You should know all attributes and detriments in each neighborhood.
You should walk around an area at night and feel comfortable.
You should experience the rush hour commute from each area. Some really really suck.
You should make sure potential rental rates are much more than bank payments.
You shouldn't reveal any unnecessary information to Realtors when looking. They are not your friend.
1). Make charts and practice sample amortization tables.
It is an investment first, which you'll use in the meantime.
The money is made
(not lost) when you purchase.
2). Practice looking together on weekends, for kicks.
Talk to people in coffee shops. You might discover a lot.
3). Let 'That Perfect House' get sold without you. Over and over.
Stick to your price point. There will always be another one. Don't ever fall in love.