32 Insider Tips for Buying and Selling a House
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Loading... - Mandlate Adia
- 04 May 2023
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Whether you're buying or selling a home, dealing in real estate can be a nerve-wracking experience, especially for a novice or first-timer. Fortunately, getting the right information can help make the process more manageable. Find out how you can sell and buy a house like a pro.
Tips for Buying a Home
When buying a home, whether to live in or as an investment property, it's crucial to understand financing options, how to apply for a mortgage and the various expenses involved.
It can be easy to get carried away when buying a home, so make sure the property is one that you will be able to afford, maintain and grow with over the years ahead.
1. Save For a Down Payment
The typical down payment is 20% of the sale price of the home. You might be able to get away with putting down less than that, but then your mortgage lender can require you to purchase private mortgage insurance. The insurance protects the lender in case you default on the loan.
That's not a horrible thing, but it will increase your monthly payments by 0.5% to 1%. So it might make more sense to take some time and save more money for a down payment. Read More…
