Michael Corbett's House-Hunting Tip: Don't Buy the First House You See
Best-selling author, real estate expert and "Extra's" Mansions and Millionaires host Michael Corbett gives you some hot tips on the best ways to buy a home -- all from his new book, "Before You Buy!"
This week's tip:
Don't buy the first house you see. Even if you think the house is absolutely perfect and it's everything you could want, don't buy the first and only house that you see. Shop around -- via the Internet, open houses and with your realtor -- if for no other reason but to reassure yourself that the house you found on day one really is the smart choice for you. If you don't continue to shop, you'll have nothing to compare it to and it will just lead to anxiety, self doubt, second-guessing, and ultimately a major case of buyer's remorse later on.
Then, once you have done your shopping and convinced yourself that this is the house for you, then have your realtor review all the local comparables to prepare an offer. Make sure you take into consideration prices of the houses that have recently sold. But most important, review the prices of the houses that haven't sold.
These will give you a truer idea of what the house is realistically worth today and what price you should be offering.