Three Deadly Mistakes Every Home Buyer Should Avoid
Deadly Mistake #1: Thinking you can't afford it. Many people who thought that buying the home they wanted was simply out of their reach are now enjoying a new lifestyle in their very own homes. Buying a home is the smartest financial decision you will ever make. In fact, most homeowners would be broke at retirement if it wasn't for one saving grace -- the equity in their homes. Furthermore, tax allowances favor home ownership. Real estate values have always risen steadily. Of course, there are peaks and valleys, but the long-term trend is a consistent increase. This means that every month when you make a mortgage payment, the amount that you owe on the home goes down and the value typically increases. This "owe less, worth more" situation is called equity build-up and is the reason you can't afford not to buy. Even if you have little money for a down payment or credit problems, chances are that you can still buy that new h...