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When you’re considering buying a house—whether that means luxury real estate, a condo, or something else—knowing what you’re doing is essential. Understanding home value and how to manage home equity are vital factors. For years, EXIT Realty Nexus has been helping aspiring property owners carefully evaluate all the necessities of home ownership. In doing so, they’ve facilitated hundreds of happy deals.

What are some crucial questions that people looking to buy a house should be asking themselves? According to businessinsider, these are the 10 questions you should consider before buying a house:

  1. Ask yourself why you want to own a home. Wanting a home to nest in (so to speak) is different from wanting a home you intend to rent out and make an income from. Though both goals are completely admirable and subjective, knowing what you intend to do at the outset can save you a lot of time.
  2. Ask yourself what you can afford. Buying a house involves much more than the outright purchase price, so be sure you can afford taxes, utilities, etc., on an ongoing basis.
  3. Factor in hidden costs, like mortgages.
  4. Figure out exactly what kind of loan you qualify for. Remember that lenders will look at everything from employment history to tax returns, so be prepared to have your “paper trail” scrutinized.
  5. Realistically consider what you expect your life to look like in 5 years. If you’re planning to stay in your current job and expect to be happy in the area you’re relocating to, buying a home might indeed be a good idea.
  6. Ask yourself what kind of neighborhood you want to live in. For some people, a major metropolitan area works; for others, a rural or more suburban existence might be ideal. If you’re considering starting a family, look into the quality of schools and local parks.
  7. Choose your realtor wisely, and make sure he or she knows exactly what you want so you don’t waste time looking at properties you’re not going to be interested in.
  8. Make sure you research your realtor’s record of experience and successful sales.
  9. If you have a family, get consider their input and evaluate what the overall impact that a move might have on each member.
  10. Make sure you’ll be able to stay on top of your other financial commitments before you decide to purchase a home.

Whatever you decide to do, the team at EXIT Realty Nexus is ready to help you get there. To find out more, call (612) 281-1033. The house of your dreams is within reach, and one of our talented house finders will help you discover it. It may even be more accessible than you think, so call today.

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