• Home
  • Business
  • Tips
  • Finance
    • Copay Assistance
  • Saving Tips
  • Technology
  • Real Estate
  • Loans
  • Career
  • Money
Facebook
BakensteinBakenstein
  • Home
  • Business
  • Tips
  • Finance
    • Copay Assistance
  • Saving Tips
  • Technology
  • Real Estate
  • Loans
  • Career
  • Money
BakensteinBakenstein
Home»Investments»Top Tips For First Time Homeowners To Avoid
Investments

Top Tips For First Time Homeowners To Avoid

November 24, 2015Updated:June 4, 201803 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Email

Top Tips For First-Time Homeowners To Avoid

Rookie blunders come with the territory of buying a home for the first time. Especially in regards to the millennial generation, where renting versus buying a home becomes the most imperative question to first ask.

As with many things that you invest in with life, whether or not you made the right decision usually can’t be determined until years have gone by—and even then, it may be difficult to measure. But ultimately, your choice to settle on a new living situation should be well calculated, where your priorities, lifestyle and financial restraints are premeditated and well analyzed before making any decision.

Make the plunge only when you’re ready to jump…

Owning a home is a monumental commitment, especially when your savings and cash flow are struggling to stay afloat. Transitioning from a renter to buyer mandates that you spend much more on housing expenses. Sure, there are some nifty tricks you can do to save money, such as investing in CenturyLink Bundles, where you combine High-Speed Internet with Home Phone Service. However, no whimsical home owning loopholes can escape you from paying high on monthly mortgages, homeowner’s insurance, HOA fees, property taxes and other miscellaneous costs that come with being a buyer.

A little ‘elbow grease’ goes a long way…

First-time homebuyers make the common mistake of spending too much on hiring a contractor to complete upgrades and other home renovations. But if you have the skills, and the patience, DIY (do it yourself) projects can save you precious equity you can (literally) build if opting to sell your home in the future is of consideration.

Use a down payment towards your advantage…

Congratulations! The bank has just offered to qualify you with 100% financing on your mortgage—mandating you to put zero money down; however, if you consider allocating money towards a down payment it will give you immediate equity while lower your risk of enduring a financial disaster, as well as reserve cash for home improvements.

Know your community’s school district, even if you don’t have kids…

Even when you don’t have children, if you reside within an area where nearby school districts are in high demand (regarding enrollment), it will dramatically affect your home’s market value for the better (or worse).

Check, then double check inspection during the home buying process…

When considering a home purchase, it’s imperative that you comprehensively examine every inch of square footage in your impending new location. Legally, there are a few loopholes real estate agents can unethically get away with and avoid disclosing some current (or future) issues with you.

Investing wisely…

Believe it or not “smart money” does actually exist! For example, one great idea new home buyers can explore is to receiving a loan through a non-profit organization, which in turn can provide you with affordable monthly payments. Although ultimately hard to come by, these advantages are out there—it’s just up to you to roll up your sleeves and see what’s out there. Remember though, maintaining a good history of credit will always pay off regarding any investment that considers a loan.

 

Also Read:

  1. 4 Ways Technology is Improving the Hiring Process
  2. How to Manage Remote Real Estate Rentals
  3. Making Your Dollar Do More For You
  4. Will Bitcoin Prices Rise Again Despite China’s Ban?
  5. 4 Reasons to Buy a Home in Wilmington, NC
  6. Know about Binary Options One Touch Strategy
  7. 5 Best Investments for 2016
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleEMV Smart Cards Replace Magnetic Strip Based Credit/Debit Cards
Next Article Effective Real Estate Tips That You Should Always Remember
kaburulu

Related Posts

Commercial Warehousing Types for Lease in Dublin, Ohio

November 28, 2023

Selling Your Home: Exploring the ‘We Buy Houses’ Option

October 24, 2023

How to Effectively Communicate with Your Letting Agent for a Smooth Tenancy Experience

September 20, 2023
Add A Comment

Leave A Reply Cancel Reply

Follow Us
Recent Posts

Unveiling the Top Artificial Intelligence Crypto Projects: Pioneering the Future of Blockchain Technolog

December 4, 2023

A Comprehensive Review of the Benefits of the Citi Premier Card

December 2, 2023

What Is Crypto Lending and Best Crypto Lending Platforms

November 29, 2023

Commercial Warehousing Types for Lease in Dublin, Ohio

November 28, 2023

Business Loan Basics: Understanding Interest Rates and Terms

November 27, 2023

Streamlining Operations: Tips & Tricks For Transport Businesses

November 24, 2023

How to Visualize Project Progress

November 22, 2023

How To Build A Successful Trading Plan?

October 24, 2023
About
About

Get the latest news, analysis, and advice on the world of business, finance, investing, and money management on our comprehensive website.

Facebook
Recent Posts

Unveiling the Top Artificial Intelligence Crypto Projects: Pioneering the Future of Blockchain Technolog

December 4, 2023

A Comprehensive Review of the Benefits of the Citi Premier Card

December 2, 2023

What Is Crypto Lending and Best Crypto Lending Platforms

November 29, 2023
Popular

What is Biktarvy Copay Assistance Program ?

July 1, 2022

James River Capital and 6 Tips to Find Mindfulness Right Now

May 27, 2020

Tips for Choosing a Marine Contractor

June 30, 2020
© 2023 Bakenstein.com. All Rights Reserved.
  • Home
  • Contact Us
  • Sitemap
  • Feed
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.