Although, for most, home ownership is often considered an important component of the American Dream, if one wants to ensure that it remains a dream, rather than a nightmare, it makes sense to analyze, understand, consider, and be prepared for the COSTS of owning a house, of oneself! There are many things and considerations, including the original (source) needs, such as money needed for a down payment and associated closing costs, to initial alternations (whether major or just minor and cosmetic, such as paint, refinishing, etc.). -finishing floors, etc.), to future needs, and reserves, necessary, for realities, such as reforms, renovations, repairs (structural and/or, electrical appliances), etc. With that in mind, this article will attempt to briefly consider, examine, review, and discuss, using the mnemonic approach, what some of these may be, and why, a smart homebuyer is someone who is prepared—and aware!
1. character; condition; continuous: Will you buy, a call, fix – top, where you pay a lower purchase price, but will have more work/alterations to do, or, one, that may be closer to, move to the right? The current condition of the house and the specific character you are looking for are significant factors! Prepare to know and realistically prepare for current, ongoing, and potential needs and other financial considerations!
2. Options; Optional; organized: A benefit of a prepared and organized approach to the process! Know what options you are looking for and want, and what are the highest priorities! When one differentiates the optional needs from the true ones, it is easier to make the right decisions!
3. systems; Service; solutions; timeline: Before purchasing any property, have a professional inspector or engineer thoroughly and carefully examine it and thoroughly report strengths and weaknesses. Schedule the best order for you, based on a combination of your personal preferences, priorities and needs, as well as financial considerations. Your personal solutions to this process should be based on what is best, on the services, on your specific situation, etc.
Four. flavors; trends; taxes: When considering your financial needs, pay attention to property taxes, but remember that property taxes typically increase over time. Is there a trend that you think could be beneficial and affordable for you? How might your personal tastes impact this process?
5. Strengths; system: Use your strengths and address your personal weaknesses, using a system that works, with your tastes, priorities and financial challenges/obstacles!
Before you buy a home, take the time to consider and analyze your basic needs. COSTS, associated with home ownership! Become a smart home buyer!