Mint has a good post with some guidelines on things to do and to avoid when buying a house. “The Ten Commandments of Home Buying” covers a few things that are important to note. The things that resonated with me:
- Don’t bite off more mortgage than you can chew.
- Carry few or no other debts.
- Keep a big buffer.
- Have an emergency fund.
- Have good life, disability, and health insurance.
- Bring a 20% down payment.
If you’ve been reading this blog, you know that buying a house is in my long-term plans. Articles like this make my radar. And they make me sad, because I know, really know, that my house isn’t going to become reality this year… or any time soon.
* * *