The first time you fulfill the “American Dream” in buying your first house is a real adventure. Terms like title, title company, escrow, mortgage, fha requirements, inspection all seem pretty foreign. In this case, “learn from experience” is not the best way to go. You can buy smart with a little training.

Your investment is too large to just “learn by experience”. For example, you will have to decide which type mortgage suits your needs the best. Your investment meaning downpayment. If you are considering purchasing a home priced at $100,000, then you would need $10,000 to $20,000 as a downpayment. Would you just hand that kind of money over to someone you didn’t know and have yet to trust? I am sure you would not without considering many things prior to doing it. A “learning curve” would not be the best approach.  Read more... (247 words, estimated 59 secs reading time)

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Why is planning important when buying your first house?
No matter how many years you have rented a residence, you will need to know the “nitty gritty” when buying your first house.

Your rented space has a heating system so you are acquainted with “a” heating system. Do you know what the other heating system possibilities are? Do you know how important it is to change furnace filters and perform other maintenance tasks? Chances are, your landlord did most of the maintenance tasks for you.  Read more... (167 words, estimated 40 secs reading time)

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