Unveiling the Essential Costs for Achieving Homeownership
Buying a house in 2023 comes with challenges due to high prices and rising mortgage rates, but it’s still a wise financial decision.
Essential homeownership costs encompass the down payment (which may not be 20%), closing costs (which also vary), prepaid expenses, moving expenses, and ongoing homeownership costs.
To prepare, focus on checking your credit, establishing a realistic budget, saving for a down payment, and shopping for the right lender.
Collaborating with a local real estate agent, comparing lender offers, and considering both upfront and ongoing expenses are crucial steps in the process- make sure you shop around!