Buying a home is an exciting, life-changing experience. But it also comes with many responsibilities and costs that overzealous buyers tend to overlook. For a smooth home-buying experience, avoid making these top three mistakes.
By far, the biggest mistake home buyers make is thinking they can afford more than they really can. Even if you get approved for a $250,000 loan, it doesn’t necessarily mean you can afford a home of that price. Can you easily afford your rent or mortgage payment each month, or will you be struggling to make ends meet?
Home buyers often make the mistake of only considering how much it costs to buy a home and not the costs of owning one. Just a few of the monthly costs you’ll need to consider include: