You've selected your community, evaluated neighborhoods, and found an agent. Now comes the big decision — choosing your home. Our Buying Smart Checklist can help you find the right home for you and your family.

Keep these five points in mind as you prepare your analysis.

1. Remember your requirements — Decide beforehand which features you absolutely require and which are flexible — and stick to that decision. Resist the charm of a three-bedroom house if you need four bedrooms.
2. Factor in future expenses — Are substantial fix-ups going to be needed? Be sure to investigate the condition of the roof and the heating system. Look for cosmetic cover-ups of serious problems.
3. Watch for "Problem Home" predictors — This partial list of potential problems could influence the advisability of your purchasing a particular house or make that house difficult to sell in the future:
   • Busy streets
   • Non-conforming systems or services
   • Lack of curb appeal
   • Excess acreage or a rural location
   • Incomplete construction
   • Non-functional floor plan
   • Costly improvements adding little or no value
   • Power easements
   • Commercial development
   • Corner lot location
   • Hazardous/toxic material site
   • Swimming pool
   • Roof condition
   • New subdivision
   • Apartment buildings nearby
   • Subdivision exterior home
   • Flood plain
   • Radon
   • Structural damage or defects
   • Railroad tracks or airport
   
   
4. Get professional inspections — They can lead you to a more informed purchase and will point out needed repairs and serious flaws. Some of the inspections required by local laws and lenders are:
   • General building inspection
   • Pool and spa
   • Septic, in-ground oil tanks, and wells
   • Termite and pest
   • Soil
   • Radon
   • Environmental
   
   
5. Be a good negotiator — When preparing to make an offer on your selected home, keep the following points in mind:
   • Ask how long the home has been on the market
   • Don't let emotions cloud your objectivity
   • Identify the seller's motivation to sell
   • Set a maximum price that you will pay
   • Make an initial offer that will give you some negotiating room
   • Submit terms that include any contingencies, such as inspections, financing approval, etc.
   • When the seller responds, be sure the price and all contingency items are covered
   • If the seller counters your offer, stay flexible and continue to negotiate
   
   

If it's possible that you'll move again in the next few years, it is not in your long-term financial interest to buy the best house in the neighborhood, a house in a declining community, or one in an isolated rural setting.