The REAL Cost of your first home: How to Offset it

[Ralph DiBugnara]

Your first home can be a great investment decision, especially in long run. Continuing the conversation from the previous post, home ownership can also be costly when not accounting for expenses outside of your monthly mortgage and down payment. It is important to be aware of these costs during the early stages of the home buying process and even as soon as your interest in real estate investing starts.

• Here's what to do to avoid payment shock when buying your first home: 
  

-Work with an agent, or a lender, who can help you understand your current financial situation

-Save some money for property maintenance and repairs

-Compare and/or research the offers and rates from multiple lenders, insurance policies, and vendors

• What ways did you prepare for your first property? Or, how are your preparing now?