Finding a Home

It's no cliché. Owning a home is still the American Dream. But before you and your dream head out the door with the Sunday classifieds, we recommend a reality check. Like everything else in life, planning will make the process easier and more enjoyable.

Getting Started
First of all, you may want to review the Glossary to understand the basic language of home buying. Then give some serious thought to what your housing needs are now and for the next few years and what you can afford. You'll find all the tools you need right here to help you make those decisions.

New vs. Previously Owned
Older homes can be charming. You may even be lucky enough to find one that meets most of the "must haves" on your wish list. Just remember, most older homes come with someone else's idea of décor, older plumbing, wiring and roofing, and very spotty maintenance records. If you're handy at home repairs, or have the budget to pay to bring things up to spec, then a previously owned home might be a good investment.

Consider the advantages of a new home. Today's builders invest in consumer research. They have a good handle on the standard features and customizing options modern buyers want. New homes must meet tougher building codes and use the latest material and techniques. They're certainly more energy efficient. When you purchase from a reputable builder, you have the peace-of-mind of a warranty. With a new home, you get to choose the kind of community that fits your family's lifestyle. Finally, use our calculator to take a look at the tax advantages of renting versus owning.

What Can You Afford?
The answer will depend on two things: 1) your financial profile, which includes your credit history, cash available for down payment and closing costs, your income and your existing debt load and; 2) current market interest rates. You can get an idea of your price range by using our How Much Can I Buy calculator.

How Much Can I Buy Calculator
Fill in the fields and click submit to find out your new home purchase price range.