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:
- Buy less house than you can afford.
- 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.
- Have a “payoff strategy”. Make sure that you are able to pay your home off in a timeframe that fits your future financial plans.
- Consider your neighborhood. What will be happening in the future? More schools? Road assessments? Other improvements that can affect your future taxes?
- What about re-sale? Are you purchasing the “nicest” home in the neighborhood? Is that the best strategy?
Does not includes estimates for PMI, Insurance, and taxes.