Buying a House? Here's 8 Crucial Questions to Ask
His comment couldn’t be farther from the truth.
My college professor once said you know when you’re an adult when you have a mortgage.
Not knowing the right questions to ask when buying a house is financially unwise.
Unfortunately, I wish I had thought more things when I purchased my first time home.
However, after owning six houses, I wish I would have done things very differently my first time around.
So, learn from my mistakes, and be sure to ask these eight important questions when buying your first or next house.
1. How Much Can I Afford?
Unfortunately, it’s not unheard of a person falling in with a house for sale without looking at their finances.
One of the first steps a new home buyer should take is to speak with a mortgage lender and request a pre-approval letter.
As a general rule of thumb, the mortgage payment should not be more than 30% of your household income.
2. How Much Are Property Taxes?
Although the home’s purchase price may be attractive, it’s essential to account for property taxes because they vary from neighborhood to neighborhood.
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