21 Surprising Tips To Know Before Buying A House

Are you getting ready to buy a home? From figuring out how much you can afford to hire the right home inspector, there is a lot to keep in mind.

Your first (or even fifth) house purchase is a huge decision. It seems like there are a million things to know before buying a house.

In order to help you with your home-buying checklist, I interviewed 21 different experts on the top thing they wish they knew before buying their first house.

Their answers uncovered a few surprising things even I hadn’t considered!

1. Your House Is Not a Part of Your Retirement Fund

The truth is that you should only count real estate as part of your net worth if it’s not your primary home or if you plan on downsizing prior to retirement. Otherwise, you’re selling yourself a false dream!

Furnishing a home can cost a lot of money, and oftentimes that is an overlooked expense when buying a house. It’s important to consider your furniture budget when looking at your overall housing budget, keeping in mind are needs vs wants.

2. Consider Furniture in Your Closing Costs

Some loan programs allow first-time homebuyers to make a down payment as low as 3% to 5% of the purchase price. Instead of buying a single-family home, consider purchasing a duplex or another multi-unit.

3. Take Advantage of First-Time Home-buyer Loan Programs

There are some hidden fees on top of the property taxes and insurance we didn’t know about when we bought our first home.

4. Hidden Fees Add Up

One example is the sewage and storm-water fee. This isn’t huge because it is only about $250 a year but it is another check to write. I wish I had known to check with the county and city for fees like that.

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