Common rookie home buyer mistakes -


Common rookie home buyer mistakes

Buying your first home is exciting. It's also very expensive. On top of a down payment and mortgage payments, you'll have to pay closing cost, insurance, and you may be on the hook for appliances and other home improvements too.

You should also plan to spend between one and three percent of the purchase price ever year just on maintenance. So, if your house cost $300,000, that's $9,000 a year you could be spending to keep it in shape. If the house is a fixer upper you'll spend more.

So before you sign anything, work up a realistic budget, and don't get talked into something you can't really afford.

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