The cost of buying a house extends beyond a seller's initial asking price. In fact, there are many "hidden" costs that buyers need to consider as they decide whether to purchase a house, such as: 1. Closing Costs There are various closing costs that a buyer may encounter before he or she finalizes a house purchase, including survey, appraisal...

Photo by Athitat Shinagowin via Shutterstock You’ll often hear it stated that paying rent is throwing money down the drain. As a motivation to buy a home, however, that might not be the best idea. A rule of thumb is that if you can purchase a home for fifteen times what you currently pay annually in rent, buying...

Photo by Pixabay from Pexels Buying your first home is an exciting experience, but it can also be overwhelming when you don't know what to expect. Below are some tips to help first-time homebuyers navigate this process successfully. 1. Get pre-approved before you start shopping. Nothing is more upsetting than finding the home of your dreams, only to...

Photo by Lukas from Pexels If you're ready to get serious about your home buying journey, one of the first steps is seeing various lenders. As you become more familiar with the process, you'll likely hear the terms preapproval and prequalified mentioned again and again. We'll look at how each letter works and what you should know before...

If possible, it helps to maintain a flexible deadline as you navigate the homebuying journey. Because if you have a tight deadline in place, you risk making a rash homebuying decision. And as a result, you may pay too much to acquire a home. Perhaps even worse, you risk purchasing a house that fails to match your expectations. As...

Image by Aline Oliveira from Pixabay If you've been dreaming of buying a home or have started looking at houses and mortgages, you've likely seen ads and information that directly targets the first time home buyer. Buying your first home is a significant milestone and one of the most financially beneficial things you'll ever do, and there are...