You will need more money than that required for purchasing the home. You need to move, furnish the home, and possibly repair the house in the coming months. Many first-time buyers make the mistake of only having enough money to get a home and then having nothing left over when the dust...
We investigate whether different ages of first‐time house buying lead to persistent differences in homeownership between cohorts. Our data span nearly 40 yearsdoi:10.1111/ecca.12157Renata BottazziUniversity of Bologna and Institute for Fiscal StudiesThomas F. Crossley...
Purchasing a home for the first time can be a daunting concept, so much so that many choose to delay the purchase until they feel better prepared. The truth is that many might already be in the right financial position to purchase but are choosing to rent instead out of fear of the unkn...
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With that said, I know that if you’re reading this, you’re probably going to buy a house anyway. That’s fine; I did too. So here I’ve put together a first time home buying guide to wrap up our best advice over the last few years in once place. Enjoy!
Choose the location and then the house If you buy the right house but it’s located in the wrong neighborhood, you will not enjoy living there. So decide on the neighborhood first before you pick a house. How can you know if you will enjoy living in the said neighborhood? Here are som...
From finding your dream home to finally closing the deal, this is the homebuying process timeline every first-time homeowner can expect to complete.
buying a house: How much can I afford in monthly housing costs? Am I prepared for a long-term investment? How long do I plan to stay in this home? Do I want stability or flexibility? Can I afford home repairs/maintenance costs? What are my financial, career and family goals? (For ...
Be Prepared for Maintenance and Repair Costs:One of the biggest shocks for new homeowners is how expensive it can be to keep a house in good condition. As a renter, you simply phoned the landlord when the geyser broke or the drains blocked but, as an owner, the bills and the ...
• Your closing date might have to be delayed to ensure all issues are remedied first.13. Close on your houseOnce all contingencies have been met, you’re happy with the final walk-through and your lender has declared your loan “clear to close,” it’s finally time to make it officia...