Serious Questions To Ask Yourself Before Buying A Home
When you buy a home, you are making a serious commitment. Some people even say that buying a home is a bigger commitment than getting married. This is because getting out a marriage can be easier than getting out of a home. Whether this is really true is not really the point. The point is that buying a home is a huge deal, and shouldn't be taken lightly. There are some serious consequences to buying a home, and you don't want to take them lightly. So before buying a home, make sure you are ready to live up to the responsibilities. In this article, you will learn how to do that.
First of all, you need to know how much you can afford. Not only when it comes to making the mortgage payment, but also paying the property taxes as well as your home owner's insurance policy. These are sometimes rolled into the mortgage, but sometimes they aren't. You might be surprised your first year to get a huge tax bill in the mail.
On top the mortgage, taxes, and insurance, you are going to have to pay for repairs and maintenance. If you have any kind of a yard, you're going to have to keep up the landscaping. If you don't like doing this every weekend, you are going to have to hire somebody. This is an additional cost that many people don't think about.
Once you buy a home, you are stuck. You can't pick up and move like you did before. You'll need to think about this before buying a home, because your life will significantly change.
One thing many people don't think about is the school district. This has a huge impact on your neighborhood. If you live near some schools that aren't all that great, then you likely won't be in a very good neighborhood. What you want is a good school that has a very low truancy rate.
One thing about buying a house is that you'll need to have a steady income for the next thirty years. If you think you'll be changing jobs, or getting laid off, then perhaps you shouldn't really be buying a home.
When you take all these things into consideration, and still feel you are ready to buy, own, and maintain a home, then please proceed full speed ahead. If, on the other hand, you are kind of on the fence, maybe you should wait a while, and buy a home later on.
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