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The decision to buy a house requires a significant commitment of finances, time, energy and emotional stamina. Before you contact a real estate agent, you (and anyone else who will live in the house with you) need to think through a number of considerations. There are five questions to answer.

1 Why Buy a House?

Do you see a house as an investment? Is it a status symbol? Does it reflect your success? Is it a place to keep your stuff dry while you get on with life? Will it be your life, a place to grow your family, cultivate a garden, plant trees? Is it for your business, studio or shop.

So many questions. You will think of others relevant to your circumstances. Write them down. In consultation with your partner (if appropriate), consider each one, listing the answer(s) next to the question.

2 How Much Can I (We) Afford?

Research the market. You know what you want your house to provide. What do such properties cost? Don't limit your search to one location or style of home. Get a good cross-section of prices to frame your market.

Set up appointments with your financial institution, the competition, and mortgage broker(s). Prepare a list of questions to ask each that include:

What is the maximum mortgage you will give me?
What charges are associated with getting a mortgage? Now? Future?
How much down payment will I require?
What is the best mortgage rate you can offer me?
What are my repayment options?
What are the advantages/disadvantages of each option?
Are there ways for me to buy down my mortgage without penalty?

3 Where Do I(We) Want to Live?

When asked, most real estate agents say that the three most important factors in selling a home is Location, Location, Location. If you are purchasing a home near where you already live, you'll know which areas are more sought after. You need to determine what you want in a neighborhood. Here are few suggestions to start your list:

Proximity to schools
Safe playgrounds and/or parks
Jogging/hiking trails
Access to public transportation
Proximity to work.

If you are new to an area, drive through the various neighborhoods at different times of the day. Who lives here? Are the gardens manicured? Are there children's bikes and toys on the driveways? What about graffiti on the schools? How close is the nearest convenience store? Would you feel comfortable shopping there at night? What kinds of cars are in the driveways, on the street?

Get a map of the area. Often there are secluded or rural properties that surround the business centre

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