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Buying a home for the first time is a big step in the American Dream. Owning your own land, your own home; that’s important. Whether it is a townhouse, home, or your very own loft, being a homebuyer comes with some things to keep in mind.
Before You Buy
Before you but a home, check everything. Is the foundation cracking? Will it crack? How old is the house? Are there any leaks? Holes in the insulation? What about pipes and wiring? Most new homes come with some sort of guarantee, but buying a used home, like a used car, dictates extra precautions. Once you have purchased the home, its yours. Its problems are your problems.
Paying for a Home
Not many people can pay cash for a home. Financing a home is a big committment on the buyer’s part because they will spend the next twenty years or so paying off that house. Are you going to have steady income over the coming years to keep up the payments? Do you have any expenses coming up, like a new car or children on the way that will put strain on the mortgage payments?
Just like a car, a house needs to be maintained. Keep an eye out for leaks, mold, holes, settling, and other things that come with a house as it grows older. By doing “preventative mainenance” you can make your home more valuable and more liveable. Houses are an investment, one that you need to both enjoy and protect.