Demystifying the Home Buying Process

Today’s Wiki Wednesday Feature: Home buying one step at a time

I am a renter, and always have been.  Lately, however, my husband and I have been thinking long and hard about when, where and how to buy a house.  As it is with any first time buyer, the decision is a big one.  With the on-going bubble debate, it becomes even more difficult.  Everyone seems to have an opinion: buy immediately, wait a year, or wait until the spring.  But as complicated as the decision is to buy or continue to rent, thinking about the actual buying process is even more overwhelming.

For those that don’t understand the lingo involved in buying a home — the process seems very daunting. I stumbled on a great Wiki entry mentioning the steps you need to take to buy a home — which links to other relevant Wiki entries.  It is a manageable way to look at the process — and approach it one step at a time.

I ran this by a few of my friends who own homes, and they thought it was pretty complete as is. What do you think? Are there steps missing?  If so, please add them into the Wiki so that all home buyers can benefit.  Currently, I am still stuck on step one — answering the question of rent vs buy.

Ed: Wiki Wednesdays is a weekly feature that highlights helpful or interesting articles from the Real Estate Wiki.