CONSUMER WATCH: Tips for buying a home

Consumer Watch

Real estate experts say there are three things you should do before you make the leap into homeownership.
     Before you even consider buying a home–

  • Make sure your financial house is in order. Real estate experts recommend first… make sure your job is stable, stick to a budget and spend less than you earn.
  • Then you should do is to talk to a lender. They’ll tell you whether you’re able to take out a loan for that house.
  • After that, make sure you’re comfortable making a mortgage payment.
  • Finally,  make sure you save enough money for a down payment. 

“For some people, it’s not worth eating in every single day or driving a civic instead of a Mercedes. They’d rather rent a house and be able to have some of those things. If you’re going to be a homeowner you reasonably need to expect it. You may need to make some balances and some number crunching in your budget so you can afford it,” says David Greene, author of “Long Distance Real Estate Investing”.

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