5 Secrets No One Tells You About Buying a Home
Are you in the market for a new home? Don't miss out on these five essential secrets that no one talks about when buying a home.
- Buy a home you can afford: It's important to buy a home that fits your budget. What you get approved to buy and what you SHOULD buy are often two different numbers. Don't overextend yourself, as it could lead to financial difficulties down the road.
- Buy a home in a good school district: Even if you don't have kids or don't plan on having them, buying a home in a good school district is a smart investment. Homes in these areas tend to appreciate in value faster than homes in other areas.
- You don't need 20% down: Contrary to popular belief, you don't need to put down 20% to buy a home. There are many loan options available that require significantly less than 20% down.
- You can back out of a deal if you want: As the market cools buyers have more power in negotiations. If you change your mind about buying a home, you can back out of the deal. Just make sure you have a contingency clause in your contract that allows you to do so.
- It costs more to own than rent: When you own a home, you're responsible for all the maintenance and repairs. This can add up quickly and make owning a home more expensive than renting. Make sure you budget accordingly(see secret #1)
So there you have it, the five secrets no one talks about when buying a home. Keep these in mind when you're in the market for a new home. Thanks for watching!