What you need to know before you make a buy a home.

1. Property taxes and qualified home interest are deductible on an individual's federal income tax return.
2. Many times a home is the largest asset an individual has and is considered one of the safest investments available.
3. A homeowner can exclude up to $500,000 of capital gains if married and filing jointly or up to $250,000 if single or filing separately.  The home must have been the taxpayer's principal residence for the previous two years.
4. A portion of each amortized mortgage payment goes to principal, which is an investment.
5. A home is one of the few investments that you can enjoy by living in it.
6. The majority of the time a REALTOR(R) can show you any home whether it is listed with a company, a builder, or even as a For Sale by Owner.
7. Working through a REALTOR(R) to purchase a For Sale by Owner can be advantageous because someone can be looking out for your best interests.
8. A Real Estate professional who can provide you financial information with a computer will give you a distinct advantage in making the right decisions.
9. A pre-approval program will actually approve you for a specific loan amount subject to the property. This will give you confidence and should help in negotiating with the seller.
10. Your Real Estate professional can provide you with a list of items you'll need to make a loan application so you'll be ready when the time comes.
11. The right to conduct a property inspection, included in your sales contract, will give you the ability to negotiate with the seller before spending the money to have a professional inspect the property.
12. A Home Protection Plan can provide coverage for selected items such as central heat and air conditioning, interior plumbing, built-in appliances, pool equipment, and other things. If the seller is not providing the coverage, you can purchase it yourself.
13. Ask the Real Estate professional for a list of buyers that he or she has helped.  Call several names to verify that you'll receive good service.
14. Ask the Real Estate professional if they are familiar with the neighborhoods you want to live in.  Ask how many homes they have sold there in the past year.
15. Ask the Real Estate professional who he or she is representing in the transaction.