What you need to know before buying (that no one ever tells you)
- Buy the house you can afford, not the maximum the mortgage lender thinks you can afford.
- Don’t dismiss school districts – even if you don’t have kids. Buying in a sought-after district will come in genius at resell.
- It’s okay if you don’t have a 20% down payment. Just talk with a reputable lender ASAP to see which loans are right for you.
- Don’t be afraid to walk. Title issues, an overwhelming inspection, or a nagging hunch that won’t quit? You’re the buyer. You’re in charge. And you can walk at any point during the option period.
- You’ll be your own landlord now, so you’ve got to factor repair costs into your budget. Another reason to revisit number one above.
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Cheers ~ Nacho