Tuesday, July 28th, 2009
It’s a buyer’s market these days when it comes to shopping for a new home. If you’re in the market, there are a few things to consider before you sign on the dotted line. When you’re about to make an offer on a house, go over your finances and make sure you can afford it without stretching your resources to the limit. Too many people have discovered that unforeseen circumstances can make that big mortgage impossible to live with. Think about the security of your current job. What would happen if you became unemployed? How many months could you continue to meet your mortgage without income?
Another thing to consider is whether the house you want to buy needs a lot of repairs. Many new homeowners find it difficult to get around to major home repairs and end up living with them for many years. Is that something that you’re prepared to do? The bottom line is if you think you’ve found your dream home, take off the rose colored glasses and take a good look at reality.