Q: How do I begin looking for a new home?

A: The first thing you should do is begin focusing on what you're looking for in a home. You can start by establishing priorities in the following three areas:

Location: Are you relocating to a new town because of a new job, or to be closer to your current job: How will the location of schools, shops, and transportation affect your choice of neighborhoods?

Personal tastes: How large a home do you need? What style of architecture do you prefer? On what kind of lot? Depending on where you live, you may have a choice of homes in dozens of styles, sizes, and settings.

Budget: How much home is it wise for you to own?

Q: How do I know for sure how much house I can afford?

A: Talk to a mortgage broker or lender use our online mortgage calculator to see where to start. There are many financing options available today, and some include low down payments. Your lender will help find an option that fits your budget, and you may be surprised at just how much home you can afford.

Q: What should I think about when I'm deciding which community I want to live in?

A: You should consider a variety of things. Good city services, nice parks and playground facilities, convenient shopping and transportation, a track record of sound development and good planning--these are just a few consideration that are important to many people when they choose a community in which to live.

Q: How can I find out what homes are selling for in a given neighborhood?

A: Home sales are a matter of public record. The Recorder's Office, a local residential appraiser, and the planning department for the city are all resources the buyer can call on. All can be searched for recent sale histories, sale prices (or average sales prices), time on the market and other listing information for sales in any given area.

Q: How can I find out what my property tax bill will be?

A: For a precise projection call the city's local assessor's office for assistance.

Q: What should I be looking for when building a home?

A: The house you ultimately choose to call home will play a major role in your family's life. A home can be an excellent investment, of course, but more importantly, it should fit the way you really live, with spaces and features that appeal to everyone in the family.

Important things to consider when building a home:

•  Is there enough room for you now, and in the near future?

•  Is the home's floor plan right for your family?

•  Is there enough storage space?

•  Is the yard the size that you want?

•  Are there enough bathrooms?

•  Will your present furniture work in this home?

Q: I'd like to have a professional look at the home before I buy it. What does a home inspector do?
A: In choosing a home inspector, consider one that has been certified as a qualified and experienced member by a trade association. A home inspector will inspect the inside mechanicals and the outer structure of your home for safety and adherence to code.

Q: Do I need to talk to my insurance agent?

A: Yes, and the sooner, the better. Most insurance professionals have a lot of experience in working with home owners, and can offer useful tips about home ownership, particularly regarding home safety and keeping your premiums low.

Once you've found a home, work together to develop a homeowner's policy that meets your individual insurance needs. You'll need to bring your paid-up policy for your mortgage lender when you come to closing.

Q: What will happen on closing day?

•  The lender's agent will ask for your paid home insurance policy.

•  The closing agent will list the adjustments. These include the money you owe the seller (the remainder of the down payment, prepaid taxes) and what the seller owes you (unpaid taxes, prepaid rent).

•  You will sign the mortgage. This gives the lender legal right to the property if you don't make your payments.

•  You will sign the mortgage note, the promise to repay the loan in regular monthly payments.

•  You will get title from the seller in the form of a signed deed.

•  The lender's agent will collect the closing costs from you and give you a settlement statement of all the items you have paid for.

•  The deed and mortgage will be recorded in the town or county Registry of Deeds.