A word on finances as a homeowner
DON'T take out a home equity loan unless you plan on staying in your home for 5-10 years with no chance of relocation
DON'T use a home equity loan for anything that won't increase the value of your home (furniture, wedding, car, vacation)
DON'T gloss over the financing terms of your mortgage simply because you're excited to own a home; that home will quickly own YOU.
DON'T forget how many items you will need to make the house a home...avoid being 'house poor'
DO act now if you want to be eligible for the $8000 first time home buyers tax credit
DO remember why homeownership is made out to be such a big deal-- because it IS. If you have one month's pay in savings and credit card debt equal to or in excess of that amount, you're not ready to buy. Just because you CAN get a mortgage doesn't mean you SHOULD.
Investing in homeownership is just that: making an investment. As such it takes preparation, research, dedication, and resources to make it work. If you have specific questions about your finances with regards to purchasing a home, please let me help! All inquiries are confidential and I always have time to help a friend. sarah.alderman@prufoxroach.com
DON'T take out a home equity loan unless you plan on staying in your home for 5-10 years with no chance of relocation
DON'T use a home equity loan for anything that won't increase the value of your home (furniture, wedding, car, vacation)
DON'T gloss over the financing terms of your mortgage simply because you're excited to own a home; that home will quickly own YOU.
DON'T forget how many items you will need to make the house a home...avoid being 'house poor'
DO act now if you want to be eligible for the $8000 first time home buyers tax credit
DO remember why homeownership is made out to be such a big deal-- because it IS. If you have one month's pay in savings and credit card debt equal to or in excess of that amount, you're not ready to buy. Just because you CAN get a mortgage doesn't mean you SHOULD.
Investing in homeownership is just that: making an investment. As such it takes preparation, research, dedication, and resources to make it work. If you have specific questions about your finances with regards to purchasing a home, please let me help! All inquiries are confidential and I always have time to help a friend. sarah.alderman@prufoxroach.com
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