The traditional way of buying a house has always been to purchase a starter home – buy something small, and once your family gets too big for it, sell it and find a new, bigger house. It’s a perfectly good plan, assuming everything goes to plan. But because a house involves so many financial factors, there’s no guarantee that everything will work out as you’d hoped.
So before you purchase a starter home, keep these tips in mind.
Look for the loan, then the house. When you look for a house before looking for a loan, it’s very easy to assume you can afford a bigger starter home than you can, fall in love with a place and then get disappointed when you can’t swing it.
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Posted by Arnaldo Rodgers on 10:47 am, With 0 Reads, Filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.