Don't Waste Time: Before you peruse homes online or in person, know what you can afford and only look at houses that you can afford and that fit your must haves list. If you cannot find homes that have every feature you desire in your price range, reconsider your must haves but don't give up. Consider a starter home with a plan to live there long enough to build up equity that you can use to move up to the next home. You can't build equity renting. So, even if you cannot fulfill every desire, it's better to make some sacrifices and buy than to keep renting. So, get preapproved and buy!
Purchase Price: Ensure the home fits within your budget without overextending. Before you start perusing homes online or touring them in person, get pre-approved for a mortgage. Ask your real estate agent to suggest good lenders.
Payment: What is included in the payment? Does it include your property taxes, hazard insurance, flood insurance, etc.
Property Taxes: Higher in some areas, impacting your monthly expenses.
Maintenance Costs: Consider the long-term maintenance costs associated with different home styles. Some features like brick are lower maintenance than wood that has to be repainted periodically.
#StopRenting #BuildEquity #MortgagePreapproval #BudgetingForAHouse #ColdwellBanker
