- my iParenting
- quick clicks
- article archive
- expert q & a
- message boards
- research baby names
- prepare a birth plan
- content channels
- ip channel rss feeds
- read birth stories
- read parenting stories
- recommended books
- e-newsletters
- safety recalls
- ip diaries
- ip store
- mom of the month
- dad of the month
- editor's letter
- letters to the editor
 |
- e-newsletters
- Sign up to receive our free weekly e-newsletters
- award-winning products
The iParenting Media Awards program helps parents find the best products for their families.
Sold!
The Road to Home Ownership
By Mark Stackpole
Ah, spring! When a young man's fancy turns to thoughts of – home ownership? Of course, that dream does not simply belong to young men, and the fantasies are not limited to springtime. It is a goal of men, women, couples and families everywhere, year-round. But as the weather warms up, the real estate market tends to do the same, especially when mortgage interest rates stay relatively cool.
May is National Prepare to Buy a Home Month, and there are some very important things that all dreamers should consider as they encounter the realities of purchasing a home.
"It all starts with the desire to own a home, but people need to allow time to qualify themselves and find a good neighborhood, which is especially important if children are involved," says Diana Brodman Summers, a former real estate attorney and the author of How to Buy Your First Home (Sphinx Publishing, 2003). "The biggest mistake that people make is not allowing themselves enough time to commit to the research. It is not unusual for the process to take from one to two years from 'starting to think about it' to moving in," she says.
According to Brodman Summers, knowing your credit scores and getting a copy of your credit report are crucial first steps – find out where there are holes and problems, and make an effort to fix them. Everything from car payments to credit card debt to student loans can have an impact on your scores, so complete and accurate information about your credit standing is absolutely necessary. Once you have gotten this information, get ready to face more potentially daunting issues. There are down payments to save, loans to qualify for and real estate agents to select, all while maintaining your sanity and trying to choose the house that will become a perfect home for your family.
"I wish I had known in advance just how time consuming the process was," says Paul Kottman, a literature professor at The New School in Manhattan, N.Y. "There was quite a bit more labor than I expected."
