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Determining Preferences

Consider your options. People sometimes begin the home buying process without actually thinking about or reviewing their own preferences or circumstances. Other times, family members know their preferences but have conflicting choices. There are many situations that can affect the ultimate decision, but it’s easier to find what you are looking for once you know what that is. This is why the DearMonty.com goal is to help make the most informed buying decisions possible.

There are many reasons to buy a home: an investment property to rent out, a place to live for yourself, or a chance to put your construction and design skills to work with a fixer-upper. Before you even begin looking, it’s a good idea to sit down and take a minute to think about what exactly your goals are before you make a big real estate purchase. Click here to learn the details.

Let’s look at some specific questions sent in by DearMonty readers from across the country. Read more Q&A articles about the “Determining Preferences” stage of the Home Buying process:

  • Is Our “Buyer Agent” Legitimate?

      Reader Question: We recently purchased a home. We used a buyer agent because we understood that a buyer agent works for the buyer instead of the seller. Our friends also bought a house recently, and they used a buyer agent. We just learned that our friends signed a buyer agent contract when they started…

  • Six tips when buying a home warranty

    Reader Question: We are buying a home, and the agent suggested a home warranty to replace or repair things that wear out. The warranty covers such items for a year, after which time we can renew the contract or let it lapse. The cost of the coverage is over four hundred dollars. We have asked…

  • Pros and cons with different housing lifestyles

    Reader Question: We are thinking of buying a home and starting a family. We are in our early thirties with good jobs and in for the long haul. We are a bit “out of the box” with many interests and don’t want a cookie-cutter in suburbia. Do you have any ideas for us? Zach and…

  • How to pick the right custom home builder

      Reader Question: We have been looking for a new home for months. Now we are thinking of custom building. We have heard many horror stories about missed deadlines, poor quality and construction flaws. How do we pick the right custom home builder? Shaun and Alyssa D. Monty’s Answer: You have already identified a number…

  • 5 important tips when considering cooperative housing

    Reader Question: Monty, we are considering the co-op style of living. What are you and other folks saying about the way that this works regarding the buy-in and the monthly costs? Monty’s Answer: Hello Mike, and thanks for your question. Here are some thoughts, not about any particular co-op. Instead, it is one person’s opinion based…

  • A smart way to pick a neighborhood

    Reader Question: Hi, We are ready to begin searching for a first home. We live north of a city with over 4 million people. My husband has a long commute to a close neighboring city. We cannot decide if we should move close to his job, stay where we are (what we are familiar with…

The Steps of Home Buying
1. Pre-Qualifying for a Mortgage
2. Determining Preferences
3. Gathering Information
4. An Agent, DYI, or PropBox
5. Viewing Homes
6. Making an Offer
7. Real estate negotiating
8. Applying for a Mortgage
9. Inspecting the Home
10. Satisfying Contingencies
11. The real estate closing
12. Moving Day!