A solid game plan can help you narrow your homebuying search to find the best home for you.

 

 

1. Know thyself

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2. Research before you look

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.

3. Get your finances in order

Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing.

Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4. Set a moving timeline

Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.

5. Think long term

Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.

6. Work with a REALTOR®

Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality.

Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

7. Be realistic

It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded.

On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.

8. Limit the opinions you solicit

It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.

More from HouseLogic

HOAs: What You Need to Know About Rules

A Financial Plan for Your Home

When It Pays to Do It Yourself

G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix.

 

1. Decide what you can do yourself

TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.

• Do you really have the skills to do it? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs.

• Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects on the weekends?

2. Price the cost of repairs and remodeling before you make an offer

• Get your contractor into the house to do a walk-through, so he can give you a written cost estimate on the tasks he’s going to do.

• If you’re doing the work yourself, price the supplies.

• Either way, tack on 10% to 20% to cover unforeseen problems that often arise with a fixer-upper house.

3. Check permit costs

• Ask local officials if the work you’re going to do requires a permit and how much that permit costs. Doing work without a permit may save money, but it’ll cause problems when you resell your home.

• Decide if you want to get the permits yourself or have the contractor arrange for them. Getting permits can be time-consuming and frustrating. Inspectors may force you to do additional work, or change the way you want to do a project, before they give you the permit.

• Factor the time and aggravation of permits into your plans.

4. Doublecheck pricing on structural work

If your fixer-upper home needs major structural work, hire a structural engineer for $500 to $700 to inspect the home before you put in an offer so you can be confident you’ve uncovered and conservatively budgeted for the full extent of the problems.

Get written estimates for repairs before you commit to buying a home with structural issues.

Don’t purchase a home that needs major structural work unless:

• You’re getting it at a steep discount

• You’re sure you’ve uncovered the extent of the problem

• You know the problem can be fixed

• You have a binding written estimate for the repairs

5. Check the cost of financing

Be sure you have enough money for a downpayment, closing costs, and repairs without draining your savings.

If you’re planning to fund the repairs with a home equity or home improvement loan:

• Get yourself pre-approved for both loans before you make an offer.

• Make the deal contingent on getting both the purchase money loan and the renovation money loan, so you’re not forced to close the sale when you have no loan to fix the house.

• Consider the Federal Housing Administration’s Section 203(k) program, which is designed to help home owners who are purchasing or refinancing a home that needs rehabilitation. The program wraps the purchase/refinance and rehabilitation costs into a single mortgage. To qualify for the loan, the total value of the property must fall within the FHA mortgage limit for your area, as with other FHA loans. A streamlined 203(k) program provides an additional amount for rehabilitation, up to $35,000, on top of an existing mortgage. It’s a simpler process than obtaining the standard 203(k).

6. Calculate your fair purchase offer

Take the fair market value of the property (what it would be worth if it were in good condition and remodeled to current tastes) and subtract the upgrade and repair costs.

For example: Your target fixer-upper house has a 1960s kitchen, metallic wallpaper, shag carpet, and high levels of radon in the basement.

Your comparison house, in the same subdivision, sold last month for $200,000. That house had a newer kitchen, no wallpaper, was recently recarpeted, and has a radon mitigation system in its basement.

The cost to remodel the kitchen, remove the wallpaper, carpet the house, and put in a radon mitigation system is $40,000. Your bid for the house should be $160,000.

Ask your real estate agent if it’s a good idea to share your cost estimates with the sellers, to prove your offer is fair.

7. Include inspection contingencies in your offer

Don’t rely on your friends or your contractor to eyeball your fixer-upper house. Hire pros to do common inspections like:

• Home inspection. This is key in a fixer-upper assessment. The home inspector will uncover hidden issues in need of replacement or repair. You may know you want to replace those 1970s kitchen cabinets, but the home inspector has a meter that will detect the water leak behind them.

• Radon, mold, lead-based paint

• Septic and well

• Pest

Most home inspection contingencies let you go back to the sellers and ask them to do the repairs, or give you cash at closing to pay for the repairs. The seller can also opt to simply back out of the deal, as can you, if the inspection turns up something you don’t want to deal with.

If that happens, this isn’t the right fixer-upper house for you. Go back to the top of this list and start again.

More from HouseLogic

What you need to know about foundation repairs

Budgeting for a home remodel

Tips on hiring a contractor

Other web resources

This Old House remodeling cost estimates

G.M. Filisko is an attorney and award-winning writer whose parents bought and renovated a fixer-upper when she was a teen. A regular contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

From toilets that double as sound systems to water-conserving spa experiences, here’s what’s trendy for bathroom improvements for 2012.

 

Trend #1:  Conservation rules

All around the country, water reserves are stressed. In response, regional governments are implementing conservation measures. As a result, there are likely to be new regulations that’ll affect your construction or remodeling plans. Here’s what to watch for:

Your new toilet will have a lower flush-per-gallon rating than the one that’s in there now. Consider a dual-flush version, or any low-flow toilet coming on the market that meets your style preferences. At the very least, your next commode is likely to feature a 1.28 gallon-per-flush rating — better than even the most-recent 1.6 GPF offerings.You’ll find them at home improvement centers from $100 to luxury showroom models for thousands more.

The WaterSense label, launched in 2006 by the Environmental Protection Agency to promote water conservation by plumbing manufacturers and home owners, will become as well-known as Energy Star. You’ll be shopping for low-flow shower heads and faucets with the WaterSense symbol on the box. Just as with Energy Star appliances, there is no cost premium associated with WaterSense savings — there are faucets in every price range. WaterSense shower heads are newer on the market, with a more limited selection today — mostly at more affordable prices.

You’ll start seeing more shower heads — especially rain shower models — using Venturi principles that deliver strong water pressure by adding air, not water, to the mix. They’re available in every price range, from ultra-affordable standard heads to luxury rain showers.

Trend #2: Technology advances

You may not think of your bathroom as a high-tech space, but that’s about to change. Here are some of the trends that can benefit your home:

You’ll be able to create a custom showering experience more affordably than ever. For $300 for simple controllers to $3,500 or more for a complete luxury installation,programmable showers let you digitally set your preferred water temperature, volume, and even massage settings before you step in. To achieve a personalized showering experience, you’ll need a 120-volt power source, and a thermostatic valve and controller in addition to your standard shower head or heads. Luxury models may include a steam system, a wi-fi source for music, multiple body spray outlets, tankless water heater, and a secondary controller to start the system from another room.

Dock your iPhone or MP3 player directly with your speaker-equipped, high-tech toilet so you can entertain yourself on the commode. While you’re not likely to invest $4,000 to $6,000 for a Kohler Numi toilet using this technology today, start looking for competitive models later in the year with lower prices.

Catch up on news and weather while you brush your teeth. Television screens are being integrated into medicine cabinets and vanity mirrors. Cost? Early entries to the market command a premium $2,200 to $2,400 price tag.

Plug your smart phone or MP3 player into your medicine cabinet so you won’t miss a call or song while getting ready for work or bed. A built-in jack keeps your unit charged (and away from wet countertops) and linked into a built-in speaker system.

Trend #3: Aging demographics emphasize safety

It’s not just high-tech that’s bringing an “experience” to the bathroom. Trends in universal design features add comfort, convenience, and safety. But that doesn’t mean your bathroom has to look institutional. Here are some universal design innovations that can factor helpfully (and stylishly) into your 2012 bath remodeling plans:

Sleek, low-profile linear drains are ideal for creating safe, zero-threshold shower designs. Unlike standard round drain covers that are typically mounted near the front end of a shower, these long, straight drains can be installed in different locations to minimize the slope of the shower floor. One popular location is at the outside edge of the shower, creating a wheelchair-friendly curbless shower. More offerings in more finishes — including nearly invisible tile-in channel models that are largely covered by shower floor tile — are becoming the standard for upscale spaces. You’ll spend $500 to $900 for a quality linear drain.

The rapidly-expanding selection of porcelain, glass, and ceramic tiles makes it easy to find slip-resistant, low-maintenance floors that don’t skimp on style. Expect to see faux wood, linen, and uniquely-textured looks for tiled bathroom floors and walls in 2012. The texture adds both visual impact and better traction for wet feet.

The accessible tub is no longer limited to the high-walled, narrow-door format that dominated the market in the last decade. Newer models, such as Kohler’s Elevance ($5,100), employ rising panels in front that give more of a traditional tub look with easier entry and exit. Others use standard hinged, sealed doors, but are increasing door width by several inches for better accessibility and appearance.

When it comes to weight gain, we blame our genes, our metabolism, and wrong foods that taste so right. But maybe our kitchens are to blame. Here’s why.

 

Dieters beware: Your dream kitchen remodel may be your biggest nightmare. Experts say that big and attractive kitchens contribute to big and unattractive waistlines.

Just shoot us now.

“If a kitchen gets you there and keeps you there, you’re going to increase your consumption,” says Mark Blegen, an associate professor at St. Catherine University in Minnesota, who studies why people eat. “Even if you add only 10 extra calories a day, you’re going to gain weight over the long term.”

You mean remodeling a small and dreary kitchen into a big and fabulous one is hazardous to our health?

“Getting people to think that this kitchen may be causing me to gain weight is a huge shift,” Blegen says. “But if people want to take an honest look at their weight, they ought to take a look at every aspect of their environment.”

Weight management depends on many things — genetics, metabolism, running shoes that live under your bed. But calories-in and calories-out also depend on increasing and decreasing barriers to food. Kitchen size, design, storage, and appliances all erect or destroy those physical and psychological barriers. Here’s how.

• Super-sized kitchens: As big kitchens multitask as family rooms, homework centers, and offices, we spend more time around food. “If it’s right there in front of you, odds are you’ll want to consume it,” Blegen says. In fact, a seminal study on eating and environment found that moving a candy bowl 6 feet away from eaters reduced their consumption by 50%. It’s hard to move food away from you in a kitchen.

• Traditional design: Kitchen designers are slaves to minimizing the distance between a kitchen’s sink, stove and refrigerator — its “work triangle.” But researcher Brian Wansink says the smaller the triangle, the more we’re eating when we’re supposed to prepping.

• Too-handy storage: Kitchen storage puts you within reaching distance of calories. Walk-in pantries are the worst, because they encourage buying in bulk and stockpiling. Not only does stockpiling put you within steps of huge quantities of food, but the cost of buying and storing that bargain 10-lb. bag of Jasmine rice puts pressure on you to eat it. You can’t win for losing.

• Tempting refrigerators: Upscale, glass-front refrigerators bring you face-to-face with last night’s leftovers, which call to you like sirens. And placing the fridge next to the eating nook makes it easier — and more likely — to grab a second helping.

• Open-shelf cabinets: They remove that last, slim barrier between you and food — the cabinet door. “The more visible and the more convenient the food is in cupboards, the more likely you are to take it,” says Wansink, author of “Mindless Eating.” Take a look at his video, which shows how kitchens sabotage your diet.

 

Forget counting calories — follow the HouseLogic diet

OK, count calories if you want. But you’ll eat fewer if you keep these kitchen makeover tips in mind.

Remodeling your kitchen? Give it the lean treatment

If your kitchen is tempting you to overeat, bite the bullet (no calories in that) and plan aremodel — keeping these strategies in mind.

• Size the kitchen with food preparation, not munching, in mind. Instead of building an eat-in kitchen, devote space to prep islands, professional ranges, double ovens, and a couple of dishwashers. Then eat in a separate room, which reduces your temptation for seconds.

• Place the refrigerator away from the kitchen entrance so you’re not tempted to graze the moment you enter the room. Also, choose smaller refrigerators with bottom freezers, which require you to stoop to scoop that ice cream. And take those vegetables out of the crisper and put them on a center shelf, where they stare you in the face each time you open the fridge door.

• Install cabinets with solid doors. If you like the look of glass, opt for opaque or antique glass that hides contents.

• Avoid walk-in pantries that can store bushels of food. Instead, choose smaller cabinetry with pull-out shelves that reveals all the healthful food they will contain. (We live in hope.)

• Keep televisions, iPads, and other distractions out of the kitchen. The less you focus on the food you’re eating, the more you’ll eat.

• Install bright lights, which discourage eating. Researchers don’t know exactly why harsh lighting means less eating. Perhaps we spend less time in places with annoying lighting. So use task lighting to help in food prep, save you money on dimmers, and keep lights bright.

Kitchen tweaks: No remodel planned? No problem

If you’ve already built the kitchen of your dreams or you’re not planning a full-scale remodel soon, a little reorganizing can help you cut calories.

• If you already have open shelves, place dishware and pots there, not food. If you must put food where you can see it, store it in opaque containers.

• Remove stools from around your prep island. You burn more calories standing than sitting, and eventually you’ll move to more comfortable spaces away from food.

• Store fattening foods in a garage freezer or refrigerator; you’ll think twice about dessert if you must walk to the garage to get it. And if you do indulge, you’ll burn a few calories fetching those sweets.

• Opt for one or two of the remodeling tips we noted above if you want to do a little more than reorganize but less than a full-on remodel.

The 10 Most Vacant Cities