Buy a house is the largest investments in person's life, so do adequate preparation (planning), think twice. Much as possible about the knowledge is absolutely necessary to buy a house .

1, to understand the whole process to buy a house (Home Buying Steps)
Overview of the process in the United States to buy a house buy a house in the whole process of generalization . In this process , you have to do a lot of things: to see the house (Show House), contracts (Sales Contract), check the house (Home Inspection), apply for a loan (Loan Application), insurance (Home Insurance), transfer (Settlement) , moving (Moving). In this process , you have to come into contact with many people : Realtors (Real Estate Agent), Housing Inspection Division (Home Inspector), mortgage brokers (Mortgage Loan Originator or Broker) or banker (Baker), insurance brokers (Insurance Agent), transfer attorney (Settlement Lawyer), moving company employees (Mover). You can go to the library to borrow a few of the books on the loan to buy a house and take a look . Local Chinese newspaper real estate column is also a good source of knowledge buy the whole process .

2 , determine the price range (Price Range)
You have to know how much money you can afford to buy a house . A simple method is the maximum loan amount of annual household income of four to five times ( assuming interest rate of 6% to 8% ) . If your family 's annual income is $ 100,000 , you can afford a $ 400,000 to $ 500,000 house. If you have $ 80,000 in cash to make the down payment (Down Payment), you will be able to buy $ 480,000 to $ 580,000 house.

If you do not have room to do a 5% cash down payment , it is best not to buy a house . First, because the difficulty in obtaining loans borrowed and get good rates. The second is to prevent the event the money is not at hand , not on a monthly basis the loan , housing will be forfeited . If there is room to do a 20% cash down payment , you can save 1.5% of the loan insurance (Mortgage Insurance) fee . If your parents give you some money to make the down payment , pay attention to tax law. Tax is available per person per year to $ 10,000 in cash anyone do not have to pay gift tax . If your parents give you $ 10,000 each , you have $ 20,000 . If each of your parents and then to your spouse $ 10,000 , you have $ 40,000 . If your spouse 's parents and then do the same , you can have $ 80,000 without tax money to do the first paragraph . The money saved to four months in advance of your bank accounts, loans can be seen as your own money, no reloading loans Gift Form (Gift Letter).