A home is the largest single purchase most people will ever make in their lives. There are some key things to know before making a home purchase.

Here are the top five:

  1. Buy less house than you can afford.
  2. Buying a house can be a very emotional decision, but don’t make a home purchase just on emotion alone. Make sure that you go into it with your eyes wide open. Do your research and take your time.
  3. Have a “payoff strategy”.  Make sure that you are able to pay your home off in a timeframe that fits your future financial plans.
  4. Consider your neighborhood.  What will be happening in the future?  More schools?  Road assessments?  Other improvements that can affect your future taxes?
  5. What about re-sale?  Are you purchasing the “nicest” home in the neighborhood?  Is that the best strategy?

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Does not includes estimates for PMI, Insurance, and taxes.