HOUSTON - Ready to take the next step in buying your first home? This can be an exciting time, but it can also be overwhelming.
There are common mistakes that are often made, therefore we're sharing 5 tips to consider before making the big move.
THE SHAKIBA GROUP
YOUR FIRST HOME SHOULD NOT BE YOUR DREAM HOME
- This is the biggest mistake young couples make
- Don't overextend
- You will not get everything on your wish list
- General rule of thumb: Don't buy anything more than 2.5 times your gross income
DON'T BUY THE FIRST HOME YOU SEE
- Evaluate multiple homes and neighborhoods
- Drive your commute to work along with other destinations
- Avoid saying, “I wish I would have known THAT before I bought this home,”
OWNING A HOME HAS ADDITIONAL COSTS OUTSIDE OF THE MONTHLY MORTGAGE PAYMENT
- Taxes, insurance, HOA costs are all expenses which need to be factored in
- Don't underestimate maintenance
- Avoid private mortgage insurance if you can
APPROACH FIXER-UPPERS WITH CAUTION
- Unless it's deeply discounted, and you know what you are doing
- Not all of us are Chip and Joanna Gaines
HIRE A PROFESSIONAL AND DEVELOP A PLAN TOGETHER
- Buying your first home is incredibly emotional
- The right agent can help you remove emotion and help you stay on track
- Team up with someone who has experience and your best interests in mind
To connect with Stephanie just click, here
For more information or to request a complimentary consultation with The Shakiba Group, click here or call 281-724-9917.
The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or recommendations.
Sponsored by The Shakiba Group
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