LLBUS 173 - How to Buy Your First Home

Now is the time to buy a first home; the $8,000 tax credit to first-time buyers expires on December 1. Even with a credit, though, a home is the biggest investment most of us will ever make. So how do you keep yourself from making a colossal mistake? It's easy--adore the house for the right reasons by being an informed buyer. We'll start by talking about current market data and what to look for in a home (i.e., location, storage space, good roof, strong foundation, more), then move into a discussion of loans, credit reports, FICO scores, financing options, and the hidden costs of buying. We'll also take you step-by-step through the buying process from preparation to closing, including how to assess market value and investment potential and how to present and negotiate your offer. A Saturday field trip will provide real-world examples of our discussions.