What is the real COST of buying a house?
Since owning a home is often considered an essential component of the American Dream, and for most people the financial value of your home represents their single largest financial / economic asset, it would not. makes a lot more sense, if serious potential owners, proceeded with their eyes wide open, and began, your process, as well prepared, as possible? Although most people realize that preserving / protecting their credit, accumulating the necessary funds, for all the down payments and other closing costs, are necessary, they often overlook the real thing. COST to buy a house! With that in mind, this article will briefly attempt to consider, examine, review and discuss, using the mnemonic approach, what this means and represents, and why it is an important and relevant consideration.
1. Credit; closure; choice; to create; to coordinate: Before starting your search, you should carefully examine and review your Credit Report, correct any errors, and address areas of weakness. You can do it yourself or hire a consultant, but don’t continue until you’ve done so. Obtaining a mortgage is not only a necessary aspect of the buying process, but credit is also needed to guarantee this loan; often the difference between getting the lowest and highest rates depends on the overall rating. Examine your choice of home and why, it will meet your needs and requirements! By creating a positive mindset, you will prepare yourself to effectively coordinate your efforts toward a much more stress-free closure.
2. Options; open minded; opportunities: Buying a home is a significant and relevant process, and it is wise to carefully consider your options, including your specific choice, potential opportunities, etc., and proceed with an open and well-considered mind to better understand all costs, expenses, etc. related
3. Systems; service; solutions; strengths: Before committing to a specific property, hire a professional engineer and / or home inspector to conduct a thorough review of the overall condition, including strengths and weaknesses. Differentiate between major and minor problems, and understand, if the so-called, house bones, they are strong, etc! Buy only a place that meets your needs, both present and for the foreseeable future, and consider whether the particular home provides relevant and sustainable solutions for your needs and priorities!
Four. Trends; taxes; time tested; timely: Recognize relevant trends, both in terms of the particular property and financing options, and proceed wisely! Use the time-tested ways to assess, including a financial review, of all related real estate taxes / fees, etc., as well as possible unforeseen expenses, etc. Once you’ve made the right decision, proceed in a thoughtful and timely manner, and be prepared!
Don’t ignore the truth COST home ownership! Will you be a smart shopper?