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Buying a New Home? Here's What You Need to Know

By Stephanie Welch Alexander
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Location, location, location.
« Better to build or buy? | Know your loans. »
A bargain is never really a bargain when located in a bad neighborhood. Sometimes lightning will strike and gentrification of certain areas will result in skyrocketing property value -- but that's rare. It's better to take a chance on a smaller home -- or one in need of repair -- in a great area where the value will only rise.


Know your needs.

Weigh the costs of home ownership.

Better to build or buy?

Location, location, location.

Know your loans.


Consider a buyer's broker.

Demand full disclosure and a professional home inspection.

Get it in writing.

What to do after the sale.

Don't forget about taxes.
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