Home Buying Basics: Are You Ready to Take the Plunge?

We just bought a house in my hometown in North-Eastern Ohio. We didn't have much time to plan our move, and things were more than a little bit hectic. We found ourselves cramming to pack, find a home in an entirely different state, and set up everything needed to make the transition....All in less than 2 months!

Thank Goodness things worked out the way we hoped and we're now settling into our new home. We love it here, and the kids couldn't be happier! Kyle is no longer being bullied in school, and we love the fact that our new town is much friendlier than the town we left behind. There's a lot to do in our area, and it's incredibly family friendly. I have to say, we don't miss Virginia at all!

When thinking about purchasing a home, there's a LOT to consider. Before making any major, life-changing purchases, it's always a good idea to discuss home-buying with your spouse. You'll need to check your credit scores and dispute anything that isn't accurate, work out a realistic budget that takes possible mortgage payments into account, and you'll need to figure out just how much house you can afford based on income and expenses. Then, of course, you'll need to research lenders and interest rates and of course obtain financing.  It seems quite daunting, but if well thought out, purchasing a home doesn't have to be a scary or difficult process.

We were pretty fortunate in the fact that we were able to purchase our home in full. That's right...We don't have a mortgage payment. Our home was an estate, and we got a very good deal on the property. We did have to pay for home inspections prior to our purchase, but it was well worth the money. It not only gave us peace of mind, it also let us know what repairs may need to be done in the future. Even though we own our home free and clear, there are still things we need to factor in, such as property tax, insurance, and budgeting for the inevitable repairs that will crop up.

Buying a home is a life-changing event that can be quite stressful. It's also very, very rewarding. You just need to make sure you do your homework and know everything that's involved before taking the plunge. If you have any questions about the home-buying process and what to expect, feel free to ask me! I'm happy to tell you more about our experience and explain things that may be a little confusing!

***Disclosure: Information contributed by Genworth Financial. All opinion are my own.***

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