* Ignore decoration. Mauve wallpaper can always be taken down! The important thing is space, and layout of rooms. Try to see this, not color scheme used by current occupier.

* ALWAYS get a survey. You won't be economising if you don't. In fact, it could be most expensive 'money saving' you ever make! A good surveyor will spot things you can't, like damp, sloppy roofwork etc.

* Ultimately, old www.mortgagedown.com cliche about 'the place feels right' is true. If you walk in and you don't get that 'wow' feeling, you probably won't enjoy living there.

Remember, as prices are now falling in most parts of world, it's a buyer's market and you can take your time. You can also put in lowball offers at times like these, and you might be surprised how little negotiation upwards is needed to secure a sale! Good luck with it, and happy house hunting!

What happened to era when your home was considered your nest egg to be used only for life-threatening or life-changing events like paying for a child’s wedding or for a medical emergency? And worst of all, many new homeowners are using their home’s equity as another source for financing new debts.

Think twice before using home equity to pay off credit card balances. If you’re already overspending on your credit cards now, what makes you think anything will be different after you pay them off with a loan or line of credit? Many people just wind up deeper in debt or facing bankruptcy because they couldn’t resist charging their cards up again.

Keep this in mind before tapping your home’s equity - Your loan or HELOC is secured by your home. Default on loan and you could lose your house, even if you declare bankruptcy!

The best use for home equity is to make improvements that add value to your home. Remodeling a kitchen or bathroom, adding an extra room or creating a master suite are just a few of “hot” improvements that can really pay off when it comes time for you to sell.

If your home truly is your nest egg, be smart about how use its equity. Make sure that it fits in with your overall financial plan and golas. Otherwise, you could be left without a nest and just egg!