Do:

• Negotiate your best price to avoid paying too much.

• Ask for concessions or home warranties. Motivated sellers will often consider your requests if they are reasonable.

• Work with professionals who understand the market area and know the recent comparable sales in that area.

• Do your homework. Consumers should do their own online research to be better educated.

• Shop around for favorable financing from a reputable lender.

• Know and understand your needs and wants and make sure they are being met. If a home is not what you need, then it's not a good buy.

• Check the inventory available in your target area — it should be high. Job growth should also be good, and foreclosures should be low.

Don't:

• Expect to get a steal — there are very few out there. Have reasonable expectations.

• Get caught in a buying frenzy. In a multiple-offer situation, step back and look at the whole picture before making an offer.

• Assume local trends mirror national trends. Get the facts about your local economic situation.

• Buy outside your means.

• Buy because of an emotional attachment. Make sure it is a good business decision.


Source: Deseret Morning News reporting