Home Buying Advice

Read This Before Your Home Inspection

You found the perfect home and have an accepted purchase agreement . . . congratulations! Perhaps you looked at many houses, or maybe the first one you looked at was the one. Either way, you did it!

The next step, if you're like most buyers, is ordering the home inspection. Although you're really excited, you're probably also a bit nervous about the inspection and uncertain about what to expect.

To help you with that, I've compiled a list of things you should know about home inspections. Read it over before the inspection so you can go into it feeling informed and ready to get the most out of the process.

4 Homebuying Costs That Are Often Forgotten

Every prospective homebuyer knows that they need to save additional money beyond just the down payment for closing costs, which generally total between 2% and 5% of the purchase price. Although closing costs include many of the various fees that are required to seal the deal on a home purchase, they don't cover them all. As a result, many buyers fail to budget for any extra costs that are incurred during the final phases of the buying process. Keep reading to find out about some of the most common costs that you should expect to encounter while grabbing that dream home!

The Myth of the 20% Down Payment

When people think about buying a home, they are often discouraged by the idea of saving enough money for the down payment. Indeed, surveys have shown that the greatest impediment to home ownership for prospective buyers is the down payment. However, many potential buyers have the false notion that a mortgage requires 20% of the home's purchase price paid up front. In reality, the median down payment in 2017 was only 10%, and many buyers paid even less than that!