Purchasing your first home is a big step, that comes with some very serious decisions. Many homebuyers are intimidated by the process, and continue renting much longer than they should, or need to. However, if you break the homebuying process down into these simple steps, and follow these important tips, you will find the process less intimidating, and much more manageable.
This week I will share 7 tips to help you along the way, here is the first:
|1)Before You Begin, Ask Yourself
One Question Will you live in your
next home for at least 3 years? If the answer is
Yes, you should
probably purchase, rather than continue renting. With average
appreciation, youll break even on your closing costs after 2 years, and
start making money at year 3. Every year after that will put more money
in your pocket! The most expensive aspect of real estate is buying
& selling, so the longer you can live in the home the better.
However, purchasing makes sense if you can make as little as a 36 month