Home Buying For Dummies, 3rd edition by Eric Tyson, Ray Brown
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Book Reviews of Home Buying For Dummies, 3rd edition
Book Review: "How to Take Title" and "Adding Value" Sections are GEMS
Summary: 5 Stars
This is a thorough book that covers many of the finer points that I didn't think it might.
The section entitled "How You Take Title is Vital" was very useful to me because I had always thought that that title through "joint tenancy' was the safest and most useful way for my wife and I to take title. However, I learned that "community property" is a much more advantages way to do it, as it will safe the surviving spouse thousands of dollars in taxes.
I also liked the seldom covered consideration mentioned in the "Seek Hidden Opportunities to Add Value." As a real estate investor and landlord, I've always believed that a house should be more than a home, it should be a source of wealth.
The book wisely mentions looking for a property where you have the option to build a rental unit on your property. That would be a great first step in turning a liability (a 30-year mortgage) into an financial assest (something that generates more income).
Unfortunately, most first time buyers settle for much less in a house than they could get.
Book Review: Straightforward and Realistic
Summary: 5 Stars
This is a great beginner's guide to home buying. The advice is straightforward and the explanations are easy to understand.
Buying a home is a scary and daunting prospect for me. I kept getting a lot of conflicting advice from relatives, friends, and coworkers on when to buy, what to buy, and how to buy. This is very frustrating as everyone means well, but what worked for them might not apply to me. And don't bother asking a realtor or mortgage company if you should buy--they make their living on our decisions to buy!
So I bought Home Buying for Dummies to learn more, and it has a lot of sound and thoughtful guidance to help decide when and how much to buy... And also how to find a good home, and then negotiate with the realtors, the sellers, the mortgage companies, and everyone else that is sticking their hands in your wallet.
The author's advice is realistic, and he points out the pitfalls of jumping in and what trouble you can get into with the different loan options out there.
Book Review: Invaluable for the novice
Summary: 5 Stars
When searching for a good teaching tool/reference for first time home buying, the list of publications can be endless and confusing. This one book will lead you step by step through each of the processes involved. Having NO PRIOR HOME BUYING KNOWLEDGE, I eagerly opened this book with highlighter in hand, reading cover to cover on all topics from finding an honest agent to buying fixer-uppers, researching mortgages, neighborhoods, etc., even whether you should consider renting vs. buyng, and all the little details in between. You will learn things you never knew before, and I found myself constantly referring to many chapters throughout our experience in searching for a home. I recommend this book to anyone seeking stratightforward and easy to understand info, no fancy jargon to cut through, just plain language writing on a very in depth subject. The book's lay out is reader-friendly as well, making it very simple to locate exactly the subject you need. Don't pass this one up!Book Review: READ BEFORE BUYING -- Buy this before buying your house
Summary: 5 Stars
You need to read this book before buying your first home...as I should have before I made my mistakes. Often times a real estate agent won't tell you everything, either because they are busy or they just want to close on the deal. The book covers home inspections, escrow info, title work, etc. Every basic detail on how to safely get you into a house. Now it won't tell you how to buy homes really cheaply like foreclosures and what not, but it will tell you some due diligence information.
Other supplementary titles with this book:
Investing Without Losing (ISBN: 0978834607 NOT on amazn, on other stores)
Book Review: Another great Dummy book!
Summary: 5 Stars
This book goes without saying that it covers all the basics and provides additional information through web links. This is my 4th Dummy book and will continue to use it as a reference for many years to come! Easy read, funny at times without being to cheesy. Kudos to the authors again for another quality book!
Read this book in any fashion you like and mark points down to inquire with Realtors, loan officer, appraisers and inspectors... You'll make some mad for being informed and catch others trying to lie or sugar coat it to you!