It happens: You’re buying a home, but something just doesn’t feel right. Are you just getting cold feet—after all, this is likely the biggest purchase of your life—or is that lingering worry telling you those yellow (or, dare we say, red) flags should be a deal breaker? Here are eight signs that you would probably be smart to walk away from a house. (You can thank us later.) Sign No. 1: The inspection turns up something majorly wrong Sure, you might cringe at some of the curr

So you're ready to ditch your landlord and the noisy neighbors who live above you. But instead of seeking out another place to rent, have you considered (like, seriously considered) buying? For many people, purchasing a home is one of those bucket-list items—something you'll accomplish down the road—so the idea of starting the process here and now may seem out of the question. But there's a chance you're actually in a better position than you think. Of course, every local rea

Thinking about buying a fixer-upper? Join the club. Blame it on the popularity of renovation reality TV or just the fact that people are searching for deals, but many home buyers are willing to purchase a property in need of major repairs. One survey by Clever Real Estate found that 67% of millennial home shoppers in the United States said they would put in an offer on a home with serious flaws that need to be fixed. Purchasing a home that needs serious remodeling, though, is

During a home search, you'll probably hear the phrase “move-in ready” used to describe a property. But what does move-in ready really mean? At the minimum, a home marked move-in ready should be livable without any anticipated repairs. “A move-in ready home should not require anything that would prevent a buyer from occupying the home immediately without a to-do list,” says Jennifer Okhovat, a real estate agent at Compass in Los Angeles. However, some home buyers might incorre

Here's what every first-time home buyer needs to know to dive into house hunting with confidence—and with as few curveballs as possible. Whether it's getting a mortgage, choosing a real estate agent, shopping for a home, or making a down payment, we lay out the must-knows of buying for the first time below. 1. How much home you can afford as a first-time home buyer Homes cost a bundle, so odds are you'll need a home loan, aka mortgage, to foot the bill, along with a hefty dow

As soon as my husband and I pulled up to see the house we’d eventually buy, it already had a good vibe to it. A blue house with a red door—just like the one I grew up in. It struck a sentimental note with me immediately. After living in one-bedroom apartments for the past seven years, we were looking to finally make the move from renters to homeowners. It wasn’t a quick process—buying a house (and getting a mortgage) aren’t things that move quickly, generally. But once we mov

When you’re dating, you can spend years searching for the perfect relationship only to—possibly—wait too long and miss out on something great. Suddenly, over your sad microwave meal and bottle of cheap red, you're looking back on your life choices, wondering what could have been if you hadn't been so darned picky. Well, the same goes for house hunting. You can drive yourself crazy searching for your dream home. You've found houses that have come close, after all. So the perfe

Getting a mortgage is a daunting prospect, which explains why so many people seem eager to pat your hand and say, “Let me give you a little advice.” Sure, those pearls of wisdom may come from an ocean of good intentions, but the suggestions might not necessarily be right for you. In fact, they could be dead wrong. So before you take some friendly outside counsel as gospel, be sure to check it against our list of the worst mortgage advice people often give. ‘Don't bother getti

When you're thinking about buying your first home, it might seem like it's all about the down payment. You save for years to have it, and you base a good portion of your home-buying budget on it. Next comes the mortgage. How much will you owe each month in principal, interest, taxes, and insurance? How does that compare with how much you currently pay as a renter? If you've figured out how to tackle those two huge expenses, you might think you have it made in the shade. With

A real estate closing is an anxiety-inducing time, even if it goes smoothly. Add something unexpected, and it will throw you for a loop. I was thrilled when the sellers accepted my offer on a tear-down lot in McLean, VA, the perfect place to build my own “Downton Abbey”–style manor. And the deal went forward without a hitch—that is, until closing day. Soon after I arrived at the title company's office on the big day, my real estate agent sheepishly handed me a set of 40-year-

Buying a home can be emotional, but negotiating the price shouldn’t be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers. Here are six tips for negotiating the best price on a home. 1. Get Prequalified for a Mortgage Getting prequalif

A home inspection checklist is a rundown of features throughout a house that might be faulty or need fixing. Home inspectors use these lists while inspecting homes, and while they may vary by individual and geographic area, rest assured, this list is incredibly long—proving that a whole lot can go wrong with a home! "There are typically over 1,600 different items on our list that home inspectors are supposed to look at,” says Claude McGavic, executive director of the National

Whether you struck oil—black gold, Texas tea—and are moving to posh Southern California (that's a reference to “The Beverly Hillbillies,” you millennials!) or maybe you're making a cross-country migration to work for Snapchat (that's a popular messaging app, boomers!), there's a lot to think about when pulling up stakes and settling in a new place. Sure, it's exciting, but a whole lot can go wrong, too. So no matter your reason for relocating, beware these top mistakes people

What is escrow? In real estate, an escrow account is a secure holding area where important items (e.g., the earnest money check and contracts) are kept safe by an escrow company until the deal is closed and the house officially changes hands. Escrow is also a contractual arrangement in which a third party—usually the escrow officer—maintains money and documents until the deal is done. How escrow works The escrow agent is a third party—perhaps someone from the real estate clos

Buying a home is one of the biggest purchases you'll ever make, so there's no question that you should make an effort to spend your money wisely. That said, especially when you're unfamiliar with the process, it's easy to make mistakes that can have a big impact on your wallet. With that in mind, I asked agents to open up about the biggest money mistakes they've seen buyers make. Read them over so that you can avoid following in their footsteps. Forgetting to shop around for

Welcome to the best—and worst—time to buy a home: spring! Yes, it's peak home-buying season. However, it’s no bed of roses. Knowing what to expect is half the battle, and can help you use these highs and lows to your advantage! So consider this an essential prep course. Ready to dive into the best of times and the worst of times for home buying? You’ll love: All the inventory One of the best things about buying a house during the spring is that you have a lot more options to

If you're hoping to buy a house soon, one little number you'll want to bring up to snuff is your credit score. Your credit score is a numerical summary of your credit report, a detailed document outlining how well you've paid off past debts—to your credit cards, college loans, and any place you owe money. Lenders check your credit score as a way to gauge whether to give you more credit in the form of a home loan. If your credit score is high, you're considered creditworthy, w

The real estate market heats up in spring. Sellers list and buyers start looking. Today’s real estate market is very competitive, however. There are fewer listings than there are buyers. This means you have to be quick, qualified, ready to make an offer and competitive. Let’s examine what you need to do to be successful. Get Pre-Approved Before Spring You need to be pre-approved for your loan, of course. Why get pre-approved months in advance? In most cases, there are ways to

Finally, you've done it: You've scoured the market for available homes—and then some—and found one you can't stop thinking about. It's time to make an offer! But before you put your money on the line, take a peek around the neighborhood. We won't use a certain cliché, but there is a reason the pros emphasize location when buying real estate. You can change your house—but you can't change the neighborhood. And if your hood is on the decline, you just might have a helluva time

One of the first things you'll hear when you start considering homeownership is that even with a mortgage, you'll need a hefty chunk of change upfront. Most financial planners recommend putting down a 20% down payment. On the current national median home price of $306,700, that comes to $61,340. And that's serious money. But if you don't happen to have that kind of cash on hand, you're not alone. Quicken Loans Vice President of Capital Markets Bill Banfield notes that the mos