1 Important Lesson about Buying a Home

1 Important Lesson about Buying a Home

A home is the single biggest asset that most Americans will every own. Yet, few people really know the ins and outs of the home-buying process.

In a series of interviews with mortgage and real estate professionals, Motley Fool contributor John Maxfield uncovered a number of helpful tactics that can dramatically transform the process in both buyers and sellers' favors.

There are certain things that every person should do before buying a house. There are analogous steps one should take before selling a home as well. And there are also specific things you can do to ensure that you don't get denied for a mortgage.

The most important lesson of all, however, was arguably the simplest. In the video below, John discusses the one piece of advice he found particularly revealing and how it could help you minimize the long-term cost of a home in the future.

Stock ideas that will help you retire rich
The best investing approach is to choose great companies and stick with them for the long term. The Motley Fool's free report "
3 Stocks That Will Help You Retire Rich" names stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.

The article 1 Important Lesson about Buying a Home originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Originally published