real estate

Home Buying for Dummies

This book was a big help to me as a first-time home buyer in my early 30s a few years ago.

Image removed.

 

  • Author: Eric Tyson and Ray Brown
  • Publisher: Wiley, 384 pages

 

This book was a big help to me as a first-time home buyer in my early 30s a few years ago. A complete novice to the home buying process, I learned the importance of preparation, from budgeting for essential costs (i.e., "good faith" deposit, home inspection and closing costs), to learning about the types of mortgage loans available, to assessing the pros and cons of buying vs. renting.

I decided to purchase my first home with my boyfriend, now my husband, who was already a homeowner (I wrote about my experience here). Although he was well-versed in the buying process, it was important to me that I educate myself (since much was at stake financially) so I wasn't relying solely on him or our real estate agent to tell me what I needed to know before signing the dotted line.

As the title suggests, you don't have to be a home buying pro to understand this book. It’s easy to follow and full of practical strategies for improving your credit score, building up your savings to cover fees, and preparing for the financial responsibility that comes with being a homeowner (Hint: It's YOU on the hook when stuff breaks down, not a landlord anymore, so have an emergency fund). The guide even includes a glossary that explains real estate terms you'll hear again and again throughout the home buying process, such as contingencies, down-payment, escrow, private mortgage insurance, and property tax.

This isn’t a book you’ll use once, either. There’s a section on financial to-dos after you buy, such as refinancing, as well as advice on things to consider when you’re ready to sell.

I’ll be flipping through my copy for a while.

BUY HERE

 

Visit the Kiplinger Bookshelf

Most Popular

Should You Consider a Roth Conversion While the Market is Down?
Roth IRA Conversions

Should You Consider a Roth Conversion While the Market is Down?

Investors who are hurting right now as the stock market takes a hit may want to console themselves with a possible tax bargain created by a Roth conve…
May 16, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
10 Substantial Stock Splits to Put on Your Radar
stocks

10 Substantial Stock Splits to Put on Your Radar

Stock splits can provide a short-term boost for investors. Here are 10 of the most notable names splitting their shares this year.
May 13, 2022

Recommended

Which Documents to Keep, Which to Shred and Which to Scan
home insurance

Which Documents to Keep, Which to Shred and Which to Scan

A speedy recovery from disaster can depend on your recordkeeping. Kiplinger’s Personal Finance writer Rivan Stinson tells us how to get our papers in …
May 4, 2022
The 25 Cheapest U.S. Cities to Live In
places to live

The 25 Cheapest U.S. Cities to Live In

Take a look at our list of American cities with the lowest costs of living. Is one of the cheapest cities in the U.S. right for you?
April 28, 2022
ABLE Accounts Give Disabled More Financial Freedom
Financial Planning

ABLE Accounts Give Disabled More Financial Freedom

People with disabilities, and their families, can save for a variety of expenses in these tax-advantaged accounts.
April 27, 2022
Getting Married? Don’t Forget to Talk Money First
family savings

Getting Married? Don’t Forget to Talk Money First

Whether or not you merge your finances, you need to be on the same page.
April 26, 2022