Warning! Don't buy a home before you answer these twenty questions.

If you are like most of the visitors to our site, you are seeking information about how to buy a home, much more than you are seeking actual homes. This tells us that we need to help you with understanding the home buying process. I don't blame you... there are a lot of details to consider. This short article will bring some of the more important questions to the surface.

Even if you were to pay all cash for a home, you should ask a number of questions. The fact that you are seeking home on lease option/lease purchase brings to light even more questions! Be certain that you know the answers to these questions before buying a home:

Area

What is the best area for you, considering where you do most of your activities and work? Is the area declining, static, or improving?
Do you know your mass-transit system, and where to locate to be nearby the stations?
Do you really want to buy a home nearby your current employer? (Employers change.)

Home Selection

Do you need a single story home, or can you live with a two-story home? (It seems like builders have nearly stopped making one story homes.)
Do you have special housing needs? (Office, mother-in-law, children, garages...)

Personal Credit

Are you sure of your credit standing?
Are you paying your bills on time now?

Financing Options

Have you gone through a mortgage qualification with a local lender? (Loans have gotten INCREDIBLY easy to get these days.)
Can you get a "sub prime loan" or "bad credit mortgage" now?
Are you aware of "down payment grants", and have you reviewed them? (These do not need to be repaid!)
Will any part of your monthly lease payments be credited to you when you buy? (Rent credit)
When you do go in for financing in a year or two, are you certain that the rent credit will be accepted by your lender? (Restrictions apply, so know them.)
Are you absolutely certain of what you must do to qualify for your loan in a year or two?
Do you understand what happens if you cannot get financing after your lease term expires?

Vendor Options

Are you buying from an investor?
If so, who is the current titled owner?
Will your loan company have any "title seasoning" issues when you go for financing?

Home Repairs

What will you do if the home you buy has major repairs needed after you buy it?
Are you aware of the various home warranty programs?
When can you buy a home warranty?

After asking these questions and getting yourself prepared with the answers, you will be much more prepared for buying a home.