Property Book Shop - How To Buy Your First Home, Second Edition

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Manufacturer: Sphinx Publishing

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Binding: Paperback
Dewey Decimal Number: 643.120973
EAN: 9781572484979
ISBN: 1572484977
Label: Sphinx Publishing
Manufacturer: Sphinx Publishing
Number Of Items: 1
Number Of Pages: 328
Publication Date: 2005-05-01
Publisher: Sphinx Publishing
Studio: Sphinx Publishing

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Spotlight customer reviews:

Customer Rating:

Summary: Good Enough
Comment: The reading is very dry. Could not make it past a few pages without falling asleep. The worksheets in the back are excellent. So, if you are looking for a home buying book this one is a good one just for the worksheets.

Customer Rating:

Summary: Good reference book
Comment: This was a good reference book but some chapters were things I didn't need to know so I skipped them. There are a lot of web site references which was great but didn't help me because I live in a small city in the middle of nowhere.

Customer Rating:

Summary: GREAT guide for a first-time buyer
Comment: My roommate works at the library and brought me home a dozen different books on how to go about buying your first home and what you would need to know (including the dummy/idiot books which I normally love). After taking a look at this one, I sent all the other ones back and ordered it from amazon because it is by far the easiest, most comprehensive, and overall helpful guide for a first-time buyer. It answers all questions and can just be used as a good reference. It's questions and answer format makes the book very easy to pick-up and less daunting-- some of the books seems like a giant boring novel!! I even gave this book as a gift to a friend considering buying a place of his own.

Customer Rating:

Summary: Good first book on buying a home
Comment: This is a basic book on home buying intended for the first time buyer. It's' fairly brief, only about 130 pages (minus the appendices), so it's a quick read. If you're a second time buyer it would probably be too basic for you, but I was looking for a quick primer before starting to read more technical books on investing in real estate.

It covers the essentials of mortgages, the bidding and negotiation process, working with agents and inspectors, the major government agencies that participate in the mortgage market, such as HUD, VA, Fannie Mae and Freddie Mac, and so on. Although you don't need to understand it to purchase a house, the secondary market is briefly discussed so you'll know what that is when you hear real estate professionals mention the term.

Most of the information is quite practical, such as how to deal with real estate agents (don't let them act like mothers-in-law and let them decide what's best for you in the way of a house, no matter how well-meaning their intentions), and inspectors (don't insist on being present during the inspection, it'll just distract them).

After the chapters devoted to the mechanics of buying the house, there's a chapter basically on "What now?" After the happy glow of buying your first house wears off, you'll now have to face the reality of doing the required maintenance and repairs, keeping up the lawn and landscaping, making sure you save enough to pay taxes, and so on. There are even useful hints on how to conserve energy and how much you can save by having old furnaces and air conditioners replaced, and the author says hers paid for itself in about 18 months, although the initial cost was daunting (about $2500). But it was worth it over the long run.

Finally, there's a chapter on foreclosure and what to do if you find yourself in that situation. There's help available in that many cities or state government agencies can help with either grants, money or advice. The book also has a glossary, and two appendices of useful worksheets such as comparing house features and mortgage lenders, a HUD-1 worksheet, and a VA guaranteed loan application form.

The book is clearly and concisely written and should give anyone a basic understanding of the home buying process. After this I went on to reading more advanced books on investing in real estate and it was useful for getting the basic knowledge quickly and easily.

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Editorial Reviews:

Take the fear out of buying your first home

For many, the process of buying a home for the first time can seem intimidating and overwhelming. How to Buy Your First Home is your resource for information on the subject. This book guides you through the entire process, including:

Preliminaries-Renting versus buying, determining what you can afford, deciding where to live

Searching for Your Home-What to look for in a home, hiring a realtor

Finances-Mortgage basics, government agencies, home loans for veterans

The Buying Process-Weighing your mortgage options, hiring an attorney, making an offer, inspecting and appraising your home

The Future-Caring for your home and increasing the value of your investment

Included within the text are Attorney Tip boxes that highlight important facts. Click on This boxes will guide you to helpful websites for additional information about calculating costs, locating homes in your area and more.

Extensive appendices include a glossary of important terms, contact information for state offices of real estate regulation and sample worksheets to help you as you make your decisions.

Written by an experienced attorney, How to Buy Your First Home is the resource that will take the mystery out of buying a home.