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Tuesday Tip – 3 important things to consider if you want to buy a home

Posted at 2:01 pm on February 4, 2020

If you are considering buying a house I have three important things to focus onto considering before becoming a homeowner.

1) Know your “why” – why do you want to buy a home. Is it rent vs. mortgage costs?  Need more space? Or maybe you want the freedom that comes with owning your own home.  Knowing your why will help determine your ‘must haves’ for a new home – what is negotiable and what is not.

2) Know your budget. It is always a good idea to speak to a lender before starting your home search so you know what you can afford. It will help you avoid falling in love with a house that is out of your price range.

3) Know your timeline.  The market can change a lot in a few short months so if, for example, your lease doesn’t end for 6 months – it probably isn’t a good time to start setting up showings. I recommend serious house hunting around 2-3 months before you would like to move. Average closings can last 45 days.

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