Home Sweet Home - A Home Buying Tutorial For the Young Married Couple
My wife and I will be moving into our first home sometime in late September. As we get ready to add the biggest component to our life together thus far, I figured it would be a nice touch to divulge some of the information we as a young married couple have gleaned in the home-buying process over the last couple of months.
Talk To As Many Homeowners As You Can - There’s no cap on the amount of advice you can receive when you are buying a home. Everything from inspections, pricing, appraisals, financing, etc., you can find out from people who’ve done it before. Parents, friends, other relatives and co-workers are a wealth of information to help you throughout the process.
Become Very Familiar With the Housing Market - If you’re the kind of person that doesn’t read the money or business section of newspapers or Internet sites, get familiar. Housing loans and the real estate market is more up in the air then paternity results on Maury. Don’t fall for loans that can balloon on you and make mortgage payments difficult.
Make Debt A True Four Letter Word - From the counselors we’ve talked to, paying down debt is one of the most important things you can do. A general misconception is that having a zero balance puts you in the best shape for housing. In general, open credit accounts with regular and substantial payments going towards them are good.
Explore All Of Your Housing Options - Don’t just get the first thing that truly appeals to you. Plan for future family growth, possible career moves, and other factors before selecting where you will spend a significant portion of your life.
Know That You Are In Control of the Situation - Much like buying anything else, you determine what goes and doesn’t go. Suggestions are just that, and if anybody is acting pushy on the other end of the table, it’s not the right deal for you.