Top 10 Things to Consider When Buying a House

things to consider when buying a house

How long would it take you to save up $200,000? 4 years? 7 years? 10 years? Heck, maybe 20 years? The average house price in the U.S. is $200,000 and that’s certainly no chump-change. Yet, when it comes to buying a house, many people spend just a few hours trying to figure out what house would be best for them. In the end, they just end up picking the one that looks the biggest from the outside and has the nicest kitchen (as if the average person really stays home and cooks anymore).

If you plan on buying a house within the next two years, you really need to start planning now.

Top 10 Things to Consider When Buying a House

So what are these top things that you need to consider when buying a house? Are there really 10 that are truly important?

Definitely.

In fact, there are probably . . . → Read More: Top 10 Things to Consider When Buying a House

Our House Search: Soon Over?

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Many of you have been asking about our house search lately. You’re wondering if we found anything we like and if we’re moving into a place soon. I had no idea this house search would spark such an interest! For those of you who are curious, here are the details of our house search thus far.

The Initial House Search

Early on, we weren’t sure which type of property we were even looking for. In fact, I wrote a post titled, “Condo or House? A Question for the Readers.”

The condo would allow us to work less (yard work and such) and it would offer quite a few amenities, but of course, this came at a monthly price. A house, on the other hand, would allow more freedom, and more privacy, but it would require more work.

After searching through a few houses and comparing them to the condo, . . . → Read More: Our House Search: Soon Over?

Important Tip For Buying a House; Don’t Become House Poor!

The housing market has taken an amazing journey in the past 15 years or so. In the mid-90s, home prices were reasonable, but they were on the rise. In fact, the value of houses increased over 10% per year in most areas, and showed no indication of slowing down, that is, until the year 2006. Home prices were at an all-time high and investors were still buying in because of the historical rise in value, but suddenly the value began to plummet, leaving many people upside-down in their mortgage (they owed more than the house was worth).

Do you know why this decline happened? Two reasons: The greed of the bank, and the greed of those that were purchasing the homes. The bank was making great money from the loans that they provided, so why not give people more money? And, those that were borrowing either borrowed more than they . . . → Read More: Important Tip For Buying a House; Don’t Become House Poor!