Buying a home is certainly one of the most rewarding experiences any of us will ever have. It’s also one of the most challenging. If you’re buying for the first time, the process may seem overwhelming. And even if you’ve been through it several times, every move is different, and presents new challenges.

So one clear advantage of enlisting the help of an agent is that you don’t have to “go it alone.” A good agent has the training, the know-how, and the experience to help you through each step of the process, and make the process of finding, buying and moving into your new home as smooth, quick, and enjoyable as possible. Another advantage is that an agent represents a valuable source of information about market trends, communities and neighborhoods, and especially, homes for sale throughout the area. Remember, not every home seller runs an ad in the local paper or puts a sign up in the yard. In fact, many homes actually sell before there is ever a need to advertise them. An agent offers you market expertise augmented by access to complete, regularly updated information about every home listed by area agents through the Multiple Listing Service (MLS). As you’ll see in the following several questions, professional expertise and services can be of considerable help throughout the buying process.

Where do I begin the process of looking for a home?

The first thing you should do is focus 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 wise for you to own?

As you consider these areas, do a little research of your own. Look through magazines for ideas about home styles and features. Drive through neighborhoods that appeal to you to see what’s available. Read the real estate listings in the newspaper to learn about current prices in the areas you’re considering. Visit our Web site, www.cbmove.com, and browse through properties that are available. Talk to friends about the features that you’d really like to have in your home. The more knowledgeable you become, the better your final decision is likely to be.

How do I find the right agent to work with?

The key word here is right. While there’s certainly no shortage of qualified agents to choose from, it’s important that you find one who can fully understand your wants, needs and individual tastes, and whose personal and professional judgment you respect.

Today’s buyers also have more choices when it comes to choosing the agent that can best represent them in a real estate transaction. Until recent years, virtually all real estate agents involved in a given transaction worked for the seller. However, a growing number of today’s home buyers are choosing to be represented by a “buyer’s agent.” In contrast to traditional agents, a buyer’s agent represents the buyer in the real estate transaction.

Most real estate companies throughout the United States have both a buyer and seller agency. You should be presented with a disclosure statement by an agent before any working relationship between the two of you is created. That statement should explain what a buyer’s agent is and does, what a seller’s agent is and does, and what dual agency means. It is very important to remember that real estate firms are governed by state laws that can vary, so disclosure laws also may vary.

We suggest you talk to several different agents before choosing one. We’ve included a few guidelines about the kind of experience and service capabilities you should be looking for. Above all, look for someone who makes you feel comfortable.

1. You want an agent who knows the community.
   Choose an agent who really knows the neighborhoods, and can point out the schools, parks, playgrounds, shops, and more.
2. You want an agent who can show you more of the homes available throughout the area.
   Choose an agent who subscribes to at least one Multiple Listing Service (MLS). This means you’ll have access to information on approximating 90% of all homes for sale in the community.
3. You want an agent who can provide all the services you need.
   Choose an agent who has the products, services, and know-how to find the home right for you … and market your present home for a faster, more profitable sale.
4. You want an agent who can offer you protection against unexpected repair bills in your new home.
   The last thing a new homeowner wants to worry about is spending cash to cover a major repair expense. Choose an agent who can offer you warranty protection on your new home.
5. You want an agent who listens to your needs . . . and responds as a friend.
   Choose an agent who really listens, and shows as much interest in your satisfaction as in making the transaction. You may even want to consider working with a buyer’s agent.

How do I know for sure how much home I can afford?

We’ve found that affordability is probably the single biggest concern of today’s first-time home buyers. Given the wide range of media coverage regularly devoted to the issue, it’s not surprising that many young families wonder how long it will take them to afford their first home.

Our advice: Don’t sell yourself short. Talk to your real estate agent. A good agent is committed to honestly and responsibly working with you to determine your affordable price range. There are many financing options available today, and some include low down payments. Your agent will help find an option that fits your budget, and you may be surprised at just how much home you can afford.

How does buying compare to renting?

Renting offers a lifestyle that’s nearly maintenance-free. That may appeal to you, but consider that renting offers you no equity, no tax benefit, and most likely, no protection against regular rent increases.

If your rent has averaged $700 a month for the last 10 years, you’ve spent $84,000 with nothing to show for it. Isn’t it time you invested in yourself instead of your landlord?

Several financing options hold special advantages for first-time buyers or families with limited cash reserves. FHA-insured and VA-guaranteed mortgages can minimize or even eliminate your down payment. You may also consider a lease-purchase agreement, or borrow cash for a down payment from life insurance, profit-sharing or retirement account.

In addition to tax deductions you’ll likely receive that can partially offset the cost of real estate taxes, insurance and home maintenance, your home may appreciate in value. Say you purchase a home that costs $100,000. If the property increases in value a meager 2% each year, your potential appreciation in just two years is nearly $4,200. And thanks to recent changes to the tax code, but subject to certain restrictions up to 250K/500K if married filing jointly, the profit you make when you sell the house is tax free as long as you own the property for a minimum of 24 months.