Before purchasing a home, it is essential to understand why you want to pursue this step. Ask yourself:
If you decide that homeownership is the best path for you, the very next question you should ask is: What is my plan to achieve my goal of homeownership? How much can I afford, including mortgage payments, property taxes, ongoing maintenance costs, and insurance?
To help you develop a plan, consider taking a homebuying course. Home Stretch is an in-person workshop taught by experienced professionals. According to the Minnesota Homeownership Center, in this workshop you will learn how to:
To find a Home Stretch workshop near you, use this tool from the Minnesota Homeownership Center.
Owning a home is a long-term commitment and will have ongoing costs that will be your responsibility. However, there are ways to keep costs down – here are a few tips to do so:
Money Management E-Newsletter: June 2018