10 Things You MUST Know Before Buying A House

1. Bank pre-approval doesn't guarantee financing.
2. Don't max out your pre-approved amount, consider future uncertainties.
3. Avoid being house broke, your mortgage should not make up more than 28% of your income.
4. Be prepared for hidden and unexpected expenses like property taxes and maintenance costs.
5. Your credit score is extremely important, it affects your mortgage rate.
6. You aren't required to put down 20%, but there are additional costs if you don't.
7. Home purchase involves contracts which can be negotiated.
8. Don't turn down a home because of simple cosmetic appearances.
9. Be cautious of homes that require major renovations or replacements.
10. Never waive the inspection, it can reveal potential issues with the house.

#processed