What You Should Know Before Buying a Home Whether you’re buying your first home or looking to move out of your old one into something new, here are some essentials of home buying. Work on your credit score
Make sure you not only know your score, but that you’ve checked it for errors and done what you can to get it as high as possible. How much house can you afford? Know your home-buying budget and don’t exceed it. Don’t forget your taxes and homeowners insurance will also be part of your monthly mortgage payment. Look at more than just interest rate Don’t just look for a low interest rate when shopping for a lender. Make sure you understand all of the closing costs that are involved when getting a mortgage loan. Do your research Always factor in property taxes when buying your home. Taxes can vary drastically depending on where the home is located. Factor in your commuting cost Perhaps you’ve found a perfect home, but have you considered how much it’s going
to cost you in time and money to get to work? Toll roads help get you to work faster, but that can add up quickly. Know the quality of your schools Do your homework on the neighborhood schools. A superior school system might just tip the balance in favor of one home over another when you take your children’s education
into consideration. There are many steps and factors to consider
before buying. One of the first steps should be getting pre-qualified for your mortgage.