In Inquiring Minds, 210SA asks local people of various professions the burning questions that everyone wants answers to. Check back at 210SA.com every Monday for a new installment. This week, Lisa Schmidt, a 42-year-old Realtor with Phyllis Browning Company, gives some home-buying tips.

If someone is single and has a modest income, would you recommend that they buy a typical three-bedroom home or should they go the condo route?

It depends largely on the type of lifestyle they lead. A house is perfect for those wanting a yard for entertaining, children to play in or animals to roam on. It’s also ideal for those who prefer ample space between neighboring properties. On the other hand, a condo is well suited for people wanting low-maintenance demands such as those who travel a great deal or have a hectic daily schedule. Condos also attract those who like the concept of being in the midst of a social community in which there tends to be much interaction between individuals.

What are the differences between buying a brand-new home and buying one that’s a few years old?

One may be able to purchase more square footage for the money in an older home versus a brand new one of comparable size and style. If the home is a great deal older, such as those found in our historic neighborhoods, then one is likely to find vintage charm and old-world craftsmanship. In contrast, a newer home may offer fewer maintenance issues and newer trends in finish out.

Is it a good time to refinance to get a lower interest rate on mortgages? What is the effect, exactly, that the mortgage crisis has had on potential buyers?

Be sure to check with your lender for a personal analysis regarding whether or not it is advantageous to refinance. Today’s buyers will find a more stratified rate structure than recent years that is highly sensitive to credit score.

How hard should people negotiate before signing the contract? How much below the price should you try for? Do sellers get insulted if you do that?

One important aspect of home buying is the negotiation process. There are often many different ways of approaching the price and how to structure the best contract for the client. For example, as an alternative to asking for a lower sale price, a buyer might consider requesting that the seller contribute toward their closing costs or install a desired upgrade. There’s no magic formula as to how much below a sale price one should try for, rather it is wise to work with your agent to determine how the home of choice compares with comparable homes that are on the market or have sold recently, and then base the offer upon that information. It’s impossible to guess when a particular seller may consider an offer insulting, thus it can be helpful to offer explanations for the thinking behind the offer.

How much money would you recommend for someone to have saved before buying his or her first house?

In the simplest of answer, it is currently advantageous to be able to make a 20 percent down payment. However, there are various different ways of financing, and a lender will tailor the loan for the buyer’s circumstances. Often more important than the amount of down payment, is the credit history and credit score of the buyer. The wise buyer works with the lender before going out to select a home such that they receive guidance on improving credit scores and establish a solid idea of how much home they can afford.

What is the biggest mistake that first-time homebuyers make?

One mistake I see happen is that buyers fail to think about how well the house they’re choosing now will sell when they are ready to move in the future. Attention should be given to such matters that are likely to remain constant and cannot be changed by the buyer such location, school district, floor-plan layout and construction quality.

How should a potential buyer proceed in getting an agent? What questions should they ask?

Look for an agent with whom you are comfortable interacting and who is an expert in the particular part of town you would like to live. Don’t be afraid to interview several agents, and ask for evidence of their experience in the neighborhood. For example, the agent should readily be able to discuss the proximity of key services, the sales trends and the demographics. Select one agent to serve as your advocate — they will be able to offer invaluable assistance through the complex process of buying from beginning to end.

What is the largest number of homes you have ever shown a buyer (like a picky buyer who didn’t like anything)?

Because I specialized in downtown living, I often take buyers to see condo developments in the center city. The concept of urban living is somewhat new in San Antonio, so it’s not unusual for me to show a buyer many different properties after which they realize they prefer the more traditional path of a house in the suburbs. So it goes, buyers often don’t know what’s possible until they actually get out there and see it. — I’m glad to be able to give them the best information available in order to make their decisions!

TLC or HGTV?

Not sure what the question is, but I’m way to busy working most of the time to watch much TV anyway. Like right now, I’m writing this at 9 p.m.!

 Dustin Coleman | 210SA