Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
February 14, 2013 By
Long Term Investments
Purchasing house is a long term investment. Most families purchase a home with the hope that over time it will appreciate in value. Most real estate experts recommend, if you purchase a home, you should consider owning it for a period of at least ten years. If ten years is too long a period for you to be saddled with a real estate investment, maybe the best route for you to take is to rent.
Can You Afford The House?
If you start looking for a home with real estate brokers, there is a tendency for the brokers to show you what they would consider your “dream house”. Unfortunately, dream houses are expensive. How much can you spend on a first home? Should you buy a starter house with the hope it will appreciate in value and you will trade up down the road? Be aware, there are numerous transaction expenses related to obtaining a mortgage and closing on the purchase of a home.
When To Buy The House
Most pundits recommend buying your first home when you are settled in your life. What does that mean? To begin with you should be finished with school and have a good job. Hopefully a stable job!
Before you buy your first home, sit down and figure out what all of your expenses are and how much you can afford for mortgage, taxes, utilities, maintenance of the house, upgrades, food and all your other living expenses. Good luck! It tends to usually be more expensive then you would assume.
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