916-223-7433

Blog

Home Buying as Simple as Buying a Car!

Just like buying a car in the previous blog, you need to figure out what your budget gets you!


When buying a home the factors being weighed usually consist of the following:
1. What is the monthly principle house payment?
2. What is the monthly insurance bill?
3. What is the tax bill?
4. Is there private mortgage insurance?
5. What is the down payment?
6. What are the closing costs?
7. What are the inspection costs?
8. What are the costs of initial improvements?

houseHouse1

 

 

 

 

OR Compare these lists and imagine if you treated your home purchase more like the purchase of a car. This may take a little bit of the stress out of the picture? You just have to start asking the same types of questions, something like this:

Questions
1. What will my house payment be?
HOME
1. Principle, interest, pmi, taxes. CAR
1. Principle, interest.
2. Will I receive insurance discounts for feature? What is the total?
HOME
2. Will my smart home technology and alarm system allow discounts? CAR
2. Will safety features such as side curtain air bags allow discounts?
3. What will initial repair cost amount to?
HOME
3. What will the general inspection indicate my cost for repair to be? CAR
3. What will my mechanic say I need to invest in the vehicle initially to bring it "up to speed"?
4. What will the energy cost amount to?
HOME
4. What will the home energy audit uncover and what will the monthly cost look like? HERS score? CAR
4. What is the rating for miles per gallon? Or what is the cost for batteries or other sources of energy?