Every year, first-time home buyers venture into the market and make the same mistakes that their parents, siblings and friends made when they bought their first houses. But today’s novice buyers can stop the cycle. Here are 12 mistakes that first-time home buyers make — and what to do instead. 1. Shopping for a house first before a mortgage…
Trisha and Dennis Rawlings, a couple in their early 30s, are moving to suburban Chicago and leaving their over-60-year-old first home in the St. Louis area behind. “We were looking at potentially buying a house,” Trisha says. But in the area where they want to live, the options within their budget were limited to purchasing…
If you’re planning to sell a home in spring, prepare now for the crucial (and fun) job of luring home shoppers. Homes that look loved and well-maintained get more attention — and first impressions matter: “A buyer makes their buying decision as they are coming up the front walk or walking through the front door,”…
A typical first-time home buyer pays thousands of dollars more than an experienced buyer would pay for the same house, according to research from two housing economists. First-time buyers overpaid an average of about $2,200, or 0.79%, for their homes, according to senior economist Jessica Shui and economist Shriya Murthy of the Federal Housing Finance…
We all make New Year’s resolutions, but let’s be honest, most are wishful thinking. By February, that “lose 20 pounds” or “learn Spanish” resolution has gone right out the window. But not for you, new homeowner. This year is different. Your first 12 months of homeownership set the tone for the entire journey. With just…
Will the new tax law save you money or cost you money? The answer depends on a complex array of factors that touch on just about every aspect of your financial life. This article is about a subset of your finances: How the tax law will affect homeownership and mortgages. Among other things, the tax…
Almost anyone who has searched for a house recently knows there are not enough houses for sale. One simple number defines the problem: In October 2017, the nation had a 3.9-month supply of existing homes for resale. That means, at the pace seen then, it would have taken 3.9 months to sell all the homes on the…
The housing picture is likely to improve in 2018: Home prices are expected to climb, but not as fast More houses could be for sale toward the end of the year, giving home buyers a greater selection to choose from Homeowners will have more equity to borrow from Yet in other ways, 2018 might continue…
Outdoor hosting is all the rage these days and it can be really fun! However, if you want to host a party in the evening/night, you’ll need a good amount of lighting. Here are five creative ways homeowners are lighting their outdoor spaces (and subsequently throwing awesome parties!) String Lighting String lighting isn’t just for the…
