Home Buying

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:

  1. We have heard many horror stories about missed deadlines, poor quality and construction flaws. How do we 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 […]

    November 11, 2014
  2. How do I structure the finances of a co-op?

    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 […]

    June 10, 2014
  3. Where on the East Coast should I invest in real estate?

    Reader Question: Hello Monty. I would like to know the investment advantages and disadvantages noted between the homes located in recreational areas of the ocean beaches of Maryland vs. Virginia. As an example; homes located in Ocean City, Maryland vs. Virginia Beach, Virginia. I am looking for long-term advantages, resale, rental streams, noted replacement or new […]

    August 1, 2013
  4. Can I use commercial property for storage?

      Reader Question: I am buying a commercially zoned property for personal use. I will be storing personal items and not operating a business. The value of the property is $35,000 dollars. Will I be required to get a commercial mortgage? Also, would I be required to carry commercial property insurance or would regular property insurance be sufficient? Bob I. Monty’s […]

    February 25, 2013
  5. Should I buy a home (or two) with prices so low?

    Reader Question: Monty,houses are selling at one third of what their market value was five years ago. Should I buy one, two or more? Monty’s Answer: The answer to your question will be different for different people. There is no “right” answer. Most of us have circumstances that are unique that others do not share. […]

    September 27, 2012
  6. Should I own a home?

    Should I own a home? We are fortunate because the dream of someday owning a home is a reality in our country. Home owner­ship is a solid symbol of our free enterprise system and is one of our greatest rights as U.S. citizens. It offers some income tax advantages and is often viewed as a […]

    January 10, 2012
  7. How do I choose a home builder?

    Before You Begin Your Builder Search Just as with buying or selling an existing home, building a new home can be a complicated process. Fortunately, there are steps one can take to avoid costly problems and unsatisfactory results. At the same time you can provide more input to achieve the outcome you want. First, as […]

    January 4, 2012