selling:
Buying what you
need or
to know
uying or selling a home are major decisions that you’ll likely face during your financial journey. They are decisions that require plenty of planning, research and know-how to ensure the process goes as smoothly as possible. Here are some things you’ll need to consider when it’s time to buy or sell your home. Buying a Home 1. Use a Trusted Real Estate Agent A qualified and experienced agent you can trust will work to protect your interests while guiding you through every step of the buying process, from setting a target price range to helping you navigate the mountain of paperwork that usually comes with it. 2. Buy the House You Can Afford While this tip may sound obvious, it’s an important one to keep in mind because what the mortgage company thinks you can afford is often different from what you really can afford. There’s no “one size fits all” method for determining what a buyer can afford, but some lenders say that a buyer’s mortgage payment should total about 28% of their gross income.
3. Look to the Future Consider your long-term plans before you buy a home. Are you planning to stay at your current job for several years or more? Do you plan to start a family? Those questions — and many more — may influence your buying decision. 4. Consider More Than the Purchase Price Consider all the costs of homeownership before you buy, not just your mortgage payment. The overall cost includes insurance, taxes, maintenance costs, homeowner association fees, etc.
10 | Germania Today
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