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All-important factors that affect your next home purchase

  • Consider how difficult or effortless it will be to sell before you buy: When it comes time to sell a home, note that whatever attracted you in the first place to the house may not necessarily charm a prospective buyer, especially, the location. You may choose to ignore it. But a potential buyer will think twice, if you the price reflects such consideration. Take time and think through what might disgust or appeal to a future buyer about a home.
  • Find out more details on what your home will cost: Real Estate property taxes, insurance and mortgage are the usual ever-present costs. Then factor in the cost of heating and cooling your potential home. Maintenance of the house is a constant expensive necessity, therefore, set aside more than enough for things like repaving your driveway every one or two years and major expense like re-roofing.
  • Do not underestimate how much you can spend: Purchasing a house still remains the American dream. Get pre-approved for your mortgage in order to move in fast when you find your dream home.
  • Avoid stretching time to buy for too long: If you think you have met all the necessary conditions, go for it. Economic climate, your job situation and that of your spouse/partner could change in the not too distant month. Though FHA loans will permit you to spend up to 43 percent of your gross monthly income on your insurance, taxes and mortgage. Your lifestyle could make this out of reach or unaffordable for you. Make certain where your money goes each month and settle on how much you feel comfortable spending.

If you budget within your means, you will feel relieved and excited after a home purchase.