Skip to main content

Home Buying Kit For Dummies, 6th Edition

Home Buying Kit For Dummies, 6th Edition

Eric Tyson, Ray Brown

ISBN: 978-1-119-19171-1

Mar 2016

432 pages



America's #1 bestselling home buying guide

Are you looking to buy a house, but don't quite know where to begin? Have no fear! This new edition of Home Buying Kit For Dummies arms you with Eric Tyson and Ray Brown's time-tested advice and strategies for buying a home in current market conditions. Packed with valuable tips for getting the best deal on your new home and navigating an ever-changing housing market, it shows you how to find the right property, make smart financial decisions, and understand the latest lending requirements and tax implications.

Thanks to looser lending standards, lower down payment mortgages, and a wider selection of homes to choose from, first-time homebuyers are making a comeback in the housing market. But if you don't know a Colonial from a counter offer, the process of buying a home can be daunting. Luckily, this bestselling guide is here to take the confusion out of the process! In plain English, it provides step-by-step guidance for buying the home of your dreams, from inspecting a property to evaluating a location to making sense of loan applications, tax documents, and counter offer forms.

  • Negotiate your best deal and obtain a lower down payment mortgage
  • Improve your credit score
  • Make sense of changing lending standards
  • Take the confusion out of lending laws, mortgage rates, and marketplace conditions

Whether you're a renter, investor, or current homeowner, everything you need to plant roots in a new home sweet home is just a page away.

Introduction 1

Part I: Getting Started with Buying a Home 5

Chapter 1: Deciding Whether to Buy 7

Chapter 2: Getting Your Financial House in Order 21

Chapter 3: What Can You Afford to Buy? 37

Chapter 4: Why Home Prices Rise and Fall 65

Part II: Financing 101 79

Chapter 5: Understanding and Improving Your Credit Score 81

Chapter 6: Selecting a Mortgage 95

Chapter 7: Mortgage Quandaries, Conundrums, and Forms 123

Part III: Property, Players, and Prices 147

Chapter 8: Where and What to Buy 149

Chapter 9: Assembling an All‐Star Real Estate Team 187

Chapter 10: What’s It Worth? 215

Chapter 11: Tapping the Internet’s Best Resources 235

Part IV: Making the Deal 245

Chapter 12: Negotiating Your Best Deal 247

Chapter 13: Inspecting and Protecting Your Home 273

Chapter 14: It Ain’t Over till the Weight‐Challenged Escrow Officer Sings 293

Part V: The Part of Tens 311

Chapter 15: Ten Financial “To Do’s” After You Buy 313

Chapter 16: Ten Things to Know When Investing in Real Estate 321

Chapter 17: Ten Things to Consider When Selling Your House 327

Part VI: Appendixes 333

Appendix A: Sample Real Estate Purchase Contract 335

Appendix B: Sample Short‐Sale Addendum plus

Short‐Sale Information and Advisory 347

Appendix C: Example of a Good Inspection Report 355

Appendix D: Glossary 375

Index 393

Bonus Material