What do I need to consider when buying a house?

Answer by  patti (29325)

Consider the neighborhood, your family's needs, resale potential and what it will take to maintain the property well. Consider your budget and the total expense involve in a home purchase.

Answer by  debbie80 (161)

The important thing to consider is your buying power. You do not want to overextend with credit. Another major factor is the condition of the home. If you don't have a lot of cash, you want to make sure that the home is in reasonable condition.

Answer by  John (9008)

First, you need to figure out a budget and stick to you. Include not only the cost of the mortgage itself, but also insurance, repairs, and maintenance. You also need to be realistic about how much work you are willing to do on the house, both in terms of time and money.

Answer by  djfreeman (37)

1. How much house can you afford? If you're financing, what monthly note are you comfortable with? Do not forget about taxes, insurance and maintenance expenses when calculating this. Also, ask your banker how much closing costs are required associated with the purchase.