‘In House Hunting, Knowledge Is Power’

As a single person and a first-time home shopper, I had to spend a lot of time convincing myself that I could do this.

After looking at my income, my budget and the tax advantages (not to mention the thought of having a place to call my own), I decided to go forward with my search.

I started interviewing agents in August 1995 and closed on a home in December 1995. Here’s the advice I would give:

* Do your homework. Part of my search for a house involved learning whose advice to trust and whose I needed to take only at face value.

The best way to do this was to get my facts straight and be just as informed as the people I was dealing with. If I knew what they were trying to tell me (or

sell me) was bogus, I could avoid working with them.

More hints: Watch the mortgage rates yourself, so you can learn what a good rate is. Ask your friends and relatives for advice.

Especially in house hunting, knowledge is power.

* Make a list of what things you’re looking for in a house. I gave my agents a list of “must have,” “would be nice to have,” “definitely must not have” and “clinchers.”

Some people like corner lots because of the size, but for me a corner lot was a “definite must not have” because I knew I wouldn’t like having entrances on two streets.

I knew I would have liked an attached garage, but it wasn’t a clincher; a fireplace was.

Be sure to include locations on your list. This will narrow your search.

* See as many houses as you can. I had been pre-approved for my mortgage, so I knew what price ranges to look at. I was in for a shock when I saw some of the houses that fit that range, which seemed to be a lot of fixer-uppers.

But as I saw more houses (and with the help of my agents), I learned to separate houses that needed cosmetic fixing up from those that needed structural fixing up.

Seeing a lot of houses will help you see what your money will buy. It will make you see what things you really need in your house (bedroom size, an extra bathroom) compared to what things you can maybe live without (a formal dining area, a separate laundry room)--especially in your price range.

* Don’t limit your search to the houses your agent shows you. Keep an eye on neighborhoods you like and drive around them. Drop into an open house if it’s a house that you thought had great curb appeal.

I found the house I ended up purchasing because I was driving around a neighborhood I knew from my youth that I remembered to be quiet and safe.

It turned out that the sellers were getting anxious to sell and, by the time I was shown the house, were willing to drop the price $19,000 from their original asking price. That original price had kept it off my agents’ search list.

* Don’t get discouraged. There will be a house that fits your “must have” list and may have enough things on your “would be nice to have” list to make you decide to make an offer. Trust your instincts, but don’t forget what you learned when you did your homework.

VINCE CAPATI

Gardena