If you are constantly moving apartments due to work, business or other commitments; then buying is not for you. You may end up loosing money due to the transaction costs involved. Even when market trends are looking positive, you may still loose out. Worse case scenario is when the market slips downwards. Below is a guide on how to go about buying a new home. Secret #1 Have a strong credit report You will most probably require mortgage to purchase a new home. A few months before planning for a mortgage, get a personal credit report. It should be spotless with nothing likely to raise the red flag among lenders. If there are any discrepancies, ensure they are sorted out before hand. Secret #2 Buy what you can afford You should go for a house that is priced relative to your annual income. Calculate well to ensure it augurs with personal income debts and expenses. Secret #3 Search for a good school District In order to boost your property value, purchase a house on an area with reputable schools. Strong school districts are always a top priority among real estate dealers. It will even be better if you have children. Secret #4 Consult professionals Internet searches are not sufficient when looking to buy new homes. It is best to consult an exclusive agent based in the area. They are more likely to serve your interests and offer helpful strategies during the bidding process. Secret #5 Choose between points and rates Lenders will usually offer you an option of paying additional points- a portion of the interest that you pay at closing- in exchange for a lower interest rate. This is a good deal if you will live in the house for a couple of years. The lower interest rates will offer you financial relief in the long run. Secret #6 Get Pre- Approved Pre- approval will put you in a better position when you finally land on a house which interests you. It enables you to check out many houses without having to worry of being denied some offers. Pre-approval involves a review of actual income, debt and credit history by a lender. Secret #7 Research well before making a bid Your opening bid should be based on research done on the neighbourhood. The trend of sales should guide you in placing a bid on the house, which should of course be five to ten percent than what the seller is asking. Secret # 8 Hire a home inspector Hire a qualified real estate engineer to conduct a survey of the house. They will point out any potential problems you are likely to encounter on your new house. The lenders will also carry out their own appraisal as a way of determining the worth of the house.