Buying a home is often the biggest single purchase you’ll ever make. But it isn’t just choosing a home to buy that’s complicated. You’ve got to think through neighborhood issues, size issues, and cost issues. Buying a home can also include legal issues, construction or building concerns, and have serious tax implications. Financing your home purchase is another big topic of interest for most home buyers. From this topic page, you’ll be able to find articles and videos that help you understand how to balance what you want in a home with what you can afford to spend. You’ll also be able to refine your search about buying a home by using the topic cloud on the right navigation.
Buying a Flipped House: Nightmare
Buying a flipped house: nightmare. This homebuyer discovered a host of expensive repairs right after moving into their new home. Buying a Flipped House: Nightmare Q: My question relates to buying a house that was flipped. I searched Ilyce’s website and only found articles for those who were flipping houses, not for buying what turns [...]
First-Time Home Buying Tips for 2020
First-time home buying tips for 2020. A look at the real estate market heading into 2020 and four tips for homebuyers in the new year. In a few days, we’ll start a new decade. Rarely has a decade produced the kind of wild swings in residential real estate prices as we’ve seen over the past [...]
Gen Z Home Buying Preferences in 2020
Gen Z home buying preferences in 2020. They want to become homeowners by 30 and they’re realistic about the housing market challenges they’ll face. Gen Z (ages 14-23) has high hopes for homeownership. According to research by Freddie Mac, Gen Z has a more positive perception of what it means to own a home than [...]
Buyer Representation Agreements: How Do They Work?
Buyer representation agreements: how do they work? This reader points out that some states have real estate laws that regulate buyer agency agreements. Q: I saw your recent article on exclusive buyer agents and buyer agency agreements that discussed an agent that required the homebuyer to sign an agreement for the showing. I feel your [...]
Is a Condo or Townhouse a Better Investment?
Is a condo or townhouse a better investment? These readers want to buy property in San Francisco they plan to rent out when they move in a few years. Q: I just read the AMA Ilyce did on Reddit about a year ago on buying a home. Thank you for all the information that you [...]
Latest Housing Market News for 2019
Latest housing market news for 2019. Home sales are up but can the national supply keep up with the demand from homebuyers? Home sales increased by 2.5 percent in July, according to the latest national housing market report by RE/MAX. The jump was enough to end nine months of year-over-year inventory growth as the number [...]
Seller Didn’t Disclose Water Damage, Now What?
Seller didn’t disclose water damage, now what? These homeowners moved in and found themselves with flooded basements from cracks, leaks and clogged drains. From time to time, we get a series of questions on the same topic. This week, everyone seems to have water on the brain. Literally. We’re running some of the questions and [...]
Should I Buy a House Now or Wait Until 2020?
Should I buy a house now or wait until 2020? New research from JCHS shows a strong housing market, but not without its challenges for homebuyers. Harvard University’s Joint Center for Housing Studies (JCHS) delivered an in-depth analysis of America’s housing market in its State of the Nation’s Housing 2019 report. And for those of [...]
What Mortgage Can I Get Approved For?
What mortgage can I get approved for? Fannie Mae found most Americans overestimate the credit score and down payment necessary to qualify for a mortgage. Credit scores and lending requirements are confusing - even to those of us who work in the credit industry or those that are tangentially related, like mortgage origination or banking. [...]
How Much Can I Afford to Spend on a House?
How much can I afford to spend on a house? There are four factors home buyers should evaluate when setting a budget to buy a house and avoid this situation. How Much Can I Afford to Spend on a House? Taking a realistic look at finances and setting a firm budget is a crucial step [...]