Hello boys and girls its time to start thinking about home ownership. In this volatile time it is best to learn how to make a sound investment. As of now one of the most common investments in America is home ownership. Classically home ownership has been a sound investment, building equity in your home slowly over time. Currently there is a bit more of a question involved in that line of thinking. Mainly how much is my home worth now, and how much will the home be worth in 30+ years. What is the current mortgage rate? Where can you get a mortgage? Where can we put the swing set? What kind of insurance do I need and what is it for?
There is so much excitement and change associated with buying a home, that it is easy to get lost in the legal speak, and not move forward. There are a few sound pieces of advice which should could help:
1) Ask questions, if you don’t understand something, ANYTHING ask about it.
2) If you feel in your gut that something is wrong, go with it. There probably is something wrong. If you are not comfortable, don’t do it.
3) Get Advise from someone who knows, like an expert.
4) Enjoy it, this is your first home and is going to be an adventure.
Make sure you talk with your spouse about the financial situation, so you are both comfortable. At the end of the day buying a home is a big deal, but just remember thousands around the country do it every day, and so can you. Be careful, be smart and have fun.