Your list of must-haves and wants is probably simple, detailing the number of bedrooms and bathrooms, family room and storage space. Here are some other things to consider.
Ranch houses are coming back
Homeowners are reinventing them with higher ceilings, more windows, wide open spaces inside and outside, and amenities, all on one floor.
The practical aspects of a single-story home have always been there: no steps to climb to get to your bedroom, and the laundry room isn't in the basement.
A new breed of home buyers want a single-story home for reasons other than cranky knees. The want glass walls and abundant access to the outdoors.
Sometimes a sturdy ranch house is available today for a bargain price.
Big basement could be homey
When you buy a home with a large basement, that dark place could remind you of scary stories.
But when one designer bought an old home with a 1,000 square-foot basement, she decided to give up her New York office and move it there.
With her tasteful furnishings, fireplace, track lighting, cream-colored walls, and its designer's table and bench, it's comfortable and productive.
Buying at auction? You
can still get a mortgage
Home buyers who place the winning bid at a real-estate auction usually pay cash. But some bidders don't realize that when they plan to live in the property as a primary or secondary residence, they can get the same financing, even on a jumbo mortgage, that they could get for any home.
Loan officers at Dallas-based Plains Capital Bank say winning bidders can't make the deal contingent on mortgage financing, so getting preapproved for a mortgage comes first.
Buyers should also know that lenders won't grant a mortgage for a home that isn't livable upon purchase.