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

What Are the Income Tax Brackets for 2022 vs. 2021?
tax brackets

What Are the Income Tax Brackets for 2022 vs. 2021?

Depending on your taxable income, you can end up in one of seven different federal income tax brackets – each with its own marginal tax rate.
September 20, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
19 Best Stocks to Buy Now for High Upside Potential
stocks

19 Best Stocks to Buy Now for High Upside Potential

Finding the best stocks to buy when the market is selling off can be daunting, but the pros believe these 19 top-rated names are poised for big return…
September 23, 2022

Recommended

How Much Does Amazon Prime Cost (And Is It Worth It?)
Amazon Prime

How Much Does Amazon Prime Cost (And Is It Worth It?)

Plenty of prices are higher in 2022 and membership in Amazon Prime (up 17%) is no exception. Are you still getting your money’s worth? We’ll test the …
September 22, 2022
Save More on Green Home Improvements Under the Inflation Reduction Act
Tax Breaks

Save More on Green Home Improvements Under the Inflation Reduction Act

Tax credits for energy-efficient home improvements are extended and expanded by the Inflation Reduction Act.
September 16, 2022
10 Best Benefits for Military Members and Their Families
savings

10 Best Benefits for Military Members and Their Families

Service members face a range of threats – from the lethal to the financial. An array of military benefits and programs are meant to offset some of the…
September 16, 2022
Work in Real Estate? 5 Tips to Get Through the Home Sales Slowdown
real estate

Work in Real Estate? 5 Tips to Get Through the Home Sales Slowdown

It’s crunch time for real estate agents and brokers. Don’t let slumping home sales become a personal finance crisis. Take these proactive steps to hea…
September 15, 2022