Of uttermost importance is saving for a DOWN PAYMENT. A rule of thumb is to save in a separate account 20% of the agreed purchase price. The more you save, the smaller your monthly mortgage payment will be. But wait!
Houses are expensive. You have homeowners insurance, maybe PMI, maintenance and upkeep. The term of your mortgage (years) may be 40 years, 35 years, 30 years, 25 years, 20 years and 15 years.
Money is like Jello. Some people have a goal of paying down their loan and others never pay things off.
Learn about the region you want to live in i.e. THE BROOKFIELDS, SPENCER, WARE, ETC. Want a big yard for your dog run or a tiny yard requiring little mowing.
Do you want garages for your cars or trucks with automatic garage door opener
s?
Attend Open Houses on the weekend. Learn what housing is: A COMODITY!
Want a fireplace, swimming pool, other amenities. Today many houses have vinyl siding.
ALL THE WORK YOU CAN DO ARE LABORS OF LOVE. You can save thousands by being a "Do-It-Selfer." paint and paper are cheap.
Shop around for preferred mortgage rates. BUY A LITTLE MORTGAGE BOOK.
Empty houses can be cheaper! Look for motivated sellers...widows, divorce, relocation, growing family looking for more space! A foreclosure? Look for For Sale signs son houses. Look at the many Classified and Display Ads.
Never be afraid to make an OFFER with the down payment to back up your Good Faith offer.
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