4. Your House Will Also Own You
Buy within your means.
When you get pre-approved for a mortgage, focus on seeing that number as a maximum.
Getting pre-approved for an amount slightly higher than you were considering spending in the first place can be very tempting with the new options that a higher price range opens up.
Buying even a little out of your means can make a big impact on your finances for years to come. Particularly as a new homeowner, you may be surprised by the increase in utilities, and the burden of expenses like property taxes and maintenance.
Don’t over-extend yourself.
Remember: “House-Broken” can happen to people, not just pets!
5. Have Fun!
Despite the potential drawbacks, buying your first house is an exciting, enjoyable, life-changing event!
Owning your own home can have an overwhelmingly positive effect on your finances, your lifestyle, and your well-being.
Enjoy shopping for a home and making plans about redecorating, landscaping, and planning rooms.
You only get to buy your first house once, so don’t forget to enjoy the ride!
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