home more attractive or enjoyable — an upgraded kitchen, walk- in closets, a master bedroom suite. Of course, one buyer’s need is another buyer’s desire. The point is to know your own needs and desires so you can easily assess potential properties and make the process smoother.
GET PRE-APPROVED FOR A MORTGAGE LOAN
Regardless, buying a house is not a simple process. Much of the planning should be done well before contacting a real estate agent or looking at homes. Work the costs as well as your budget. Choose a general location. Contact lenders well ahead of home shopping and get pre-approved (not pre-qualified) before looking at homes, so that your offers aren’t tied up in getting financial approval. It's also important to get pre-approved so you know how much you really can afford and don't end up wasting a lot of time looking at properties you don't qualify for. Don't assume you will qualify for what you want. Lenders view income differently than a buyer would, especially if part of the income is made up of bonus, commission, or variable hours.
You can also find more about home loans in Chapter 8.
Having the image of your dream home is reality married with imagination. You may find that some aspects of the house you intend to buy are different. It’s not the same as what your dreams told you. Different people have different requirements. It depends on your thought processes, as well as your personality. We understand important things and potential compromises differently. Needs are basic requirements that just can’t be ignored or compromised. Desires, on the other hand, can be left behind if the situation requires you to. You need to make a clear distinction between what your needs are and which items you would classify as desires.
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