Michael Corbett's House-Hunting Tip: Start Small, Win Big!
Best-selling author, real estate expert and "Extra's" Mansions and Millionaires host Michael Corbett gives you some hot tips on the best ways to buy a home -- all from his new book, "Before You Buy!"
This week's tip: Start small, win big! Once you begin shopping you'll probably realize that the house you want may not match the reality of what you can afford, especially if you plan to buy smart by putting 20% down. You'll need to match your dream home to your budget -- the starter home. Embrace the concept that the first house or condo you purchase is not going to be the place you'll live in for the rest of your life.
The good news is that if you buy smart now, you're able to begin the process of gaining equity and appreciation. Coupled with salary increases and smart savings plans, the opportunity to move up exists. And not only are smaller houses more affordable but in today's new market, downsizing is in vogue smaller homes are going to be a hot commodity in the coming years.
For more tips and guidelines, check out Corbett's book "Before You Buy!" on Amazon.com.