Discover the 10 rules to follow when buying a home:
- Get help. Hire a REALTOR® to get the most for your money. It pays to have someone looking out for your interests.
- Money matters. If you're considering a mortgage, shore up your credit and get a copy of your credit report.
- Get pre-approved. Especially in today's market this is a must. Speak to more than one lender. Save yourself the time and grief of looking at houses you can't afford and be prepared if you find yourself in a multiple offer situation.
- Determine how large your mortgage can be. Explore different loan options to determine what is best for you.
- Decide what (and where) you want to buy. Prioritize your needs (i.e., location, schools, and amenities).
- Consider your re-sell value. Even if you don't have school-aged kids, a strong school district is usually a good thing.
- Do your homework. Bid based on sales trends of similar homes in the neighborhood.
- Calculate the hidden costs. Property taxes, insurance, maintenance and association fees can impact your wallet over time.
- Don't be house poor. Double and triple check to be sure you haven't maxed yourself out on the cost of your home and left nothing for maintenance, HOA fees, etc.
- Stay put. Commit yourself to your new home for at least a couple of years before making your next move.
Type: Multi Family Home