Buying a Home When You're Single,... | Buy

The single person's complete guide to buying your own homeDo you dream of having a home of your own? With nearly half of all new home buyers being single, you're in good company. But how do you go about finding the right place and actually purchasing it? What do you, as a single person, need to know? In Buying a Home When You're Single, Donna Albrecht demystifies the home-buying process and takes you step by step through the entire process of acquiring the home of your dreams-from hiring a real estate agent to closing the deal. Whether you envision yourself in a palatial mansion or a modest condo, co-op, or manufactured home, here's your guide to making your dream come true!? Learn how mortgages work and how to choose the best one for you? Secure financing to fit your earning power? Find specific help for first-timers? Mine the Internet's rich real estate information? Evaluate housing choices including co-ops, condos, single-family dwellings, manufactured homes, and others? Negotiate the best price on a home? Improve your investment after your purchase

Donna G. Albrecht is a professional writer with an expertise in real estate.

Acknowledgments

xi

Introduction

1

(1)

Farewell to Fear

2

(1)

Changes in Home Search Methods

3

(1)

Magnets for Singles

3

(1)

A Taxing Subject

4

(1)

A Home Isn't Always a House

5

(14)

Evaluate Your Personal Priorities

5

(2)

Location, Location, Location

7

(3)

Styles of Housing

10

(3)

Is Buying Really for You?

13

(2)

Lifestyle Choices Worksheet

15

(4)

Home, Home on the Web

19

(8)

Here and Now

20

(1)

Specialty Sites

21

(1)

Looking for Lenders

22

(3)

No Computer? No Problem

25

(2)

Association by Gilt

27

(10)

What Is a Community (or Home Owners') Association?

27

(1)

What's in It for You?

28

(3)

Avoiding the Doghouse

31

(1)

Dollars and Sense

32

(5)

How Much Home Can You Afford?

37

(18)

Why You Should Prequalify or Get Preapproved for a Loan

37

(2)

How to Prequalify

39

(3)

How Much Are You Likely to Qualify For?

42

(3)

The Last Word in Fees: Closing Costs

45

(3)

Affordable Ways to ``Get Down''

48

(7)

All Home Loans Are Not Created Equal

55

(16)

Kinds of Lenders

55

(4)

Kinds of Loans

59

(2)

Loan Guarantee Programs

61

(4)

Comparing Loans

65

(1)

Impounds Impact Your Budget

65

(3)

Lure of the Biweekly Mortgage Payment

68

(3)

Special Help for First-Timers

71

(10)

Mortgage Revenue Bonds

71

(4)

Sweat Equity and Down Payment Programs

75

(1)

Mortgage Credit Certificates

76

(1)

Local Programs Tackle Local Problems

77

(4)

Be a Star---Get an Agent

81

(14)

Why Get an Agent?

81

(2)

Kinds of Representation

83

(3)

How to Choose an Agent

86

(5)

What to Expect from Your Agent

91

(4)

Something New---or Tried and True?

95

(18)

Something New

95

(1)

Choosing a New Home

95

(2)

Check Out the Builder

97

(3)

Tried and True

100

(4)

Seduction of Curb Appeal

104

(1)

Buyer Beware

105

(1)

Look Before You Leap (Home Inspections)

106

(3)

Home Choice Checklist

109

(4)

Have I Got a Deal for You

113

(16)

Review Your Strategy

113

(1)

Win-Win Negotiations

114

(1)

Making an Initial Offer

115

(4)

Do It in Writing

119

(2)

The Face-off

121

(8)

An Escrow Is Not a Large Bird

129

(16)

How Long Will It Take?

129

(1)

Before You Close

130

(3)

You Can Tell a Home by Its Title

133

(3)

Cure for Seller's Remorse

136

(1)

If You Want to Back Out

137

(3)

What's in a Name? (Ways to Take Title)

140

(5)

After the Dance Is Over

145

(8)

Saving Your Paperwork

145

(2)

Don't Sweat the Small Stuff

147

(1)

A Taxing Subject

147

(2)

Basis for Your Basis

149

(4)

Congratulations, It's a Home!

153

(16)

Turning On Your New Home

153

(3)

Keeping in Touch---Current Contacts

156

(3)

Before Your Move

159

(1)

Helping Your Best Friend

160

(1)

Sometimes, Take Your Time

161

(1)

Improving Your Investment

162

(4)

Protect Your Investment

166

(3)

Finale!

169

(2)

Glossary

171

(14)

Appendix I Where To Find Special Buyer's Programs

185

(4)

Appendix II Amortization Tables

189

(20)

Index

209

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