You should think about buying a house as a long term investment. Find out why thinking long term is so important when buying a home.
As the housing market finally seems to be picking up again, the question on everyone’s mind remains: Can we trust the real estate market again?
While the housing rebound is real, it’s also important to do your homework and not buy the biggest house you can afford with no down payment.
In a recent article by Parade magazine, I told readers pursuing home ownership that thinking long term is crucial when buying a house. You should really plan on living in your new home for 10-15 years to get the biggest bang for your buck.
Before diving into your search for buying a new home, be sure to look closely at your local market, check your credit score and look beyond investment opportunities. Think of your new home as more of a long term investment rather than a quick turnover.
Also, having a bigger down payment will help those with lower credit scores become more attractive to lenders.
Learn more about what you should do before buying a house by reading the full article.
About Parade: Parade Magazine is distributed to 33 million households every Sunday and its website has over 43 million monthly visitors.