| Purchasing a home is an exciting time in anyone’s | | | | a home purchase, it’s important to keep an eye |
| life. As one of the biggest investments you can | | | | on the financial markets. Interest rates are tied to |
| make, buying a new home can also provide security, | | | | prime rates, which can fluctuate greatly. Your realtor |
| a sense of success and a place for your children to | | | | should have a fairly good idea on whether the trend |
| grow and create memories. However, since there is | | | | is for the rates to go up or down, and it’s a |
| such a huge financial risk involved with buying a | | | | good idea to buy when you can get the most home |
| home, there are several things you should take into | | | | for your money. Less interest over the life of your |
| consideration before taking the huge leap into | | | | loan means your money will go further. Also be |
| homeownership. | | | | aware of any special financing programs you might |
| Here is a short list of things you may want to think | | | | qualify for, such as low or no down payments |
| about before you sign on the dotted line: | | | | options. |
| Location, Location, Location - Any realtor will tell you | | | | Your Personal Relationships - This is a tough subject |
| that the price of your home is tied to its location. | | | | that your realtor is not likely to bring up with you. |
| How far away are the schools? Is there | | | | However, there are many couples who go into the |
| transportation nearby? Is the home on the | | | | venture of buying a home together without taking a |
| “wrong” side of the tracks, or is it in a | | | | good look at their relationship. A rocky relationship will |
| preserved historic neighborhood? Depending on your | | | | not be saved through reaching a dream of being a |
| family or work situation, some locations will definitely | | | | homeowner. Too many couples (married or not) are |
| work better than others. | | | | buying homes, only to separate or divorce shortly |
| Condition of Housing Market - In a slow economy, it | | | | thereafter. If anything, the stress of buying a home |
| may make sense to buy. When prices are low and | | | | or living together can rip apart the most fragile of |
| home sales are sluggish, many homeowners and | | | | relationships. |
| homebuilders are offering outstanding incentives for | | | | While buying a home is an extremely personal |
| homebuyers. When the market is hot and at the top | | | | decision, it makes sense to thoroughly think through |
| of its game, it could be a big gamble to purchase. | | | | all the pros and cons involved. Buying a home will |
| It’s a personal decision, but be sure to ask your | | | | perhaps be the biggest investment you will make in |
| realtor what his or her prediction is for the | | | | your lifetime, and deserves as much consideration as |
| area’s housing market. | | | | who you will marry and where you will spend the |
| Interest Rates and Financing - If you are considering | | | | rest of your life. |