I am just starting to research what's involved in purchasing a first home.I found this book to be very helpful in providing a landscape of what is involved, but you should supplement it with more specificbooks, particularly around mortgages.The book starts out by having you evaluate what you want in a home, and prioritizing the features.It tells you how to research neighborhoods, ok this is pretty city-centric but they are trying to reach a wide audience.It explains the various professionals involved in each stage of the process, provides forms for interviewing them, and explains what they should provide.It continues to walk you through the inspections, negotiations and closings.
The book is easy to read, but let's face it, the purchase process is complex, and I found myself re-reading some sections discussing the many forms and insurance options.There are some quirky sidebars that are of questionable value (songs about houses, a cookie recipe) but they do add some levity.
Where the book fell a little short was the mortgage discussion.The first book I read "Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Finance" covers this in great detail, and I highly recommend it as supplemental reading.It will explain in detail the junk fees that are mentioned in this book.
The forms included in the book have varying degrees of usefulness, but the interview and inspection forms are gold.A number of websites are listed throughout the book, and will save you from having to Google for the information.
Overall I'm happy with this book, and plan to reference it throughout the purchase process.
Product Description
Get the right house at the right price with insider tips and advice from the experts!
Say goodbye to landlords and laundromats with Nolo's Essential Guide to Buying Your First Home. This timely title will help you find the right place to live and invest in -- and even have fun doing it.
Filled with interesting facts, real-life stories and common pitfalls to avoid, this book provides everything you need to select the right house, the right mortgage, the right agent, the right inspections -- and much more. Get the inside scoop on:
Read through the real-world experiences of over 20 first-time homebuyers, as well as valuable insights from a team of 13 real estate professionals, including:
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Along with this step-by-step handbook, you'll get The Homebuyer's Toolkit, a CD-ROM that includes dozens of forms and MP3s which will help you find the right place, crunch the numbers, interview real estate professionals, and even borrow down payment money from your parents.
The brand new 2nd edition of Nolo's Essential Guide to Buying Your First Home is fully updated to reflect the dramatically changing housing market and includes new information on buying foreclosed and bank-owned properties, including what to look for when you're considering these types of homes. You'll get the most up-to-date information on the increasingly strict mortgage market, plus additional tips on how to "green" your new home. (20080608)
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