A Simple Guide to Help Avoid Overpaying for Your Next Home 
Simply put, PAYING TOO MUCH can jeopardize the integrity of your investment. Here's vital information to help you avoid overpaying for your home.
Whether you are a first time buyer or an old pro at the real estate game, buying a home can be a daunting process.
It's an emotional time filled with difficult choices - and each decision you make has money riding on it, your hard earned money.
Finding the right home to meet your family's needs is hard enough. But knowing how to avoid paying too much for that home once you've found it is another job entirely.
As someone who has helped countless buyers find their dream homes and save money at the same time, I've developed this guide to help you avoid the pitfalls inherent in the home- buying process. I'll show you how to make sure you've found the right home, but also how to negotiate a price to your advantage.
In today's complex, fast paced market, you can't afford to learn these lessons through trial and error. The tips contained in this report will go a long way toward making you a savvy buyer.
TIP # ONE
Before you start shopping, understand that there are two homes out there vying for your interest--- the one that meets your needs vs. the one that fulfills your desires. In a perfect world, you'd find a home that satisfies both. But since this isn't a perfect world, you're going to find yourself confronted with choices.
When you start shopping, you are going to find a home you fall in love with for different reasons. That's why you should list the features you want before you start shopping. Use the form provided here and break your list into two categories---"NEEDS " and " DESIRES"---and PRIORITIZE the items you come up with.
Understanding what you really need as opposed to what you'd like to have will help you keep your priorities straight as you shop around. I've seen people fall in love with a home for the wrong reasons, then regret their purchase when the home fails to meet their needs.
Don't let emotion cloud your judgment. Satisfy your needs first. If you find a home that meets your needs and fulfills some of your desires, so much the better. The important thing is to know the difference before you get caught up in the excitement of the hunt.
TIP # TWO
Getting a loan preapproval is the smart way to shop for a home. It tells sellers that you're a serious prospect, and you know in advance the maximum mortgage you can afford. Make sure you get a commitment in writing. I've seen many buyers make the mistake of learning what they qualify for but not getting that preapproval in writing.
The good news is that it is still fairly easy to qualify for a home loan. Lenders have modified qualification rules and created programs designed to help people even if they have problems in their credit or employment histories. Many programs call for dramatically reduced down payments ___ the biggest obstacle for first-time home buyers in particular.
PLEASE CHECK YOUR CREDIT SCORE. 
This can save you hundreds of dollars on your monthly payment. For example, if you have an old credit card that is paid off but is still on your report, it could cost you big dollars.
Mortgage lenders are telling us that an old credit card will affect your score and a lower score can affect your house payment by several hundred dollars a month. Do yourself a big favor and check that credit report for errors and old open accounts.
If your credit score is under 680, you will have difficulty currently with most mortgage applications since the tightening of the money markets. There are some exceptions, but please work on improving your score before you apply for a mortgage.
Part Two: Avoid paying TOO Much for Your Next Home..........coming soon
Westbrook Realty
Grand Rapids Real Estate is My Real Job
Terry Westbrook's Grand Rapids Real Estate Blog
Copyright by Terry Westbrook 2007
Contact me at : 1-888-240-1968 x 0
Website url: Terry Westbrook.com
Email: terry@TerryWestbrook.com
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