About House Hunting

Our ancestors literally hunted for homes for their families. Whether they built mansions or carved settlements out of a wilderness, they had to find a place and often fight for it before settling down to making a home. Today, we've civilized the process a little but we still search earnestly and compete with others who are searching, too. House hunting can be a chore or recreational depending on a number of factors and the hunter's attitude.

Evolution

Early humans had to fight off neighboring clans for prime housing. When hunter-gatherers settled down to start farming, they built permanent dwellings, anchoring clan territories. Generally, nobody had to transfer unless war or plague destroyed the community or lack of an heir ruined the family. Beginning in the late Middle Ages, though, merchants and tradesmen created a "middle class" that began demanding secure deeds to property that they occupied and improved by building shops and homes. The practice of real estate trade was founded by title brokers, who bought and sold deeds to lots of property abandoned by families during the waves of plague that remade the social structure of 17th century Europe. By the time the New World was settled in the next century, just about anyone with cash or chattel could own property and the land rush of the American West encouraged every American to dream of owning his own homestead. By the beginning of the 20th century, "hunting" for a house had become a fairly civilized activity, requiring the name of a good attorney rather than a club or spear.

The Facts

Modern hunters use every resource available. Real estate associations and firms maintain their own websites, making it possible to search across the country and to limit results by dictating cost and physical descriptions. Newspapers print extensive real estate sections, particularly in weekend editions and real estate firms provide listings over a wide area through listing service membership. Real estate professionals are trained to determine what buyers can afford and help them find it.

Misconceptions

Real estate agents may act for the buyer or the seller---whoever contacts them first. A buyer's agent has a responsibility to get the best deal for the buyer; a seller's agent's first allegiance is to the seller. Accept that your agent is a businessperson, not your buddy, and you'll do fine.

Risk Factors

Too many buyers "fall in love" with a house and forget to ask all the questions. House inspectors have broken a lot of hearts. Some agents will encourage buyers to buy more than they planned to spend, not because they think it's a great house but because it means a bigger commission.

Expert Insight

House hunting should be an adventure. Unlike our ancestors, there will probably be a good---or better---house on the horizon with a price that's closer to what we can afford. Patience and resolve are your greatest assets in hunting for your next home. Unless you're experienced and have a good home inspector, "By Owner" sales and do-it-yourself closings can cost you more money than they save. A buyer's agent and a reputable real estate attorney will help you make the best deal. Don't rule anything out until you've seen it. Some agents are lousy photographers. Make a list of important factors for you and match it to every house you see. One will pop up as a near-perfect match eventually.

Resources

• Basics from Rwaltor.com
• Freddie Mac's complete condition checklist
• Shopper's checklist