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First Things First - Savannah Homes

Like many buyers, when I bought my first home, I got the cart before the horse and began willy-nilly looking at houses with no real plan of action in place.


I found a house I liked then considered the area as to whether it fit my needs, then thought about financing.


I wasted a lot of time because I found houses I liked that were outside the areas best suited to my needs and outside the price range best suited for my finances.


Now I realize that a good plan of action is essential and the reverse order is the best approach. Getting all the financial ducks in a row is the first order of business, then deciding on an area which fits my needs, then locating the right house.


Getting all the financial work done first allows the buyer to know limitations and the best course of negotiation. It helps control what is called champagne taste on a beer budget. Some people can afford any home on the market, but most of us have limitations – either imposed from the reality of our finances, or prudently self-imposed. Knowing how the home will be financed, and the financial limits we decide on or have to accept, creates peace of mind by narrowing down options and placing discipline on our buying and looking urges.


Searching for the right area is also critical. Knowing your purchase is reasonably secure by choosing areas where nothing is likely to negatively affect your home’s appreciation can also add to peace of mind. Finding an area that fits your family’s diverse logistical needs, if you have a family, saves a lot of hassle and heartache later. Areas are also important for social enjoyment, cultural interests and personal esthetics. A beautiful home may be situated in an area that offers you very little in the way of entertainment, esthetics, social activity, etc, so that after a while you begin to dislike the home because of the area.


Once finances and area are pretty much nailed down, THEN looking for the right home is fairly easy, efficient, relatively hassle-free, and, mainly, disappointment-free.

Published Wednesday, June 13, 2007 2:52 PM by Mike Farmer


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