Joint Base Charleston Real Estate

8 Things To Keep In Mind Before Buying Your First Joint Base Charleston Home

August 23rd, 2016 1:40 PM by Jodie Ford

8 Things To Keep In Mind Before Buying Your First Joint Base Charleston Home

  1. Owning a home can be your biggest source of wealth. Your Joint Base Charleston home is not just a place to live, but also an investment into your future.
  2. Stretching to get into a Joint Base Charleston home you can’t afford is a bad idea. Millions of homeowners lost their homes to foreclosure in 2008 and 2009 as a result of getting into a house that they couldn’t afford. Make sure you figure out your budget and determine exactly how much you can afford to spend.
  3. Save up for a down payment. If you have a down payment, you have equity, which means you own a portion of your Joint Base Charleston home from the beginning. 
  4. Keep in mind that you may have to pay for the inspection, appraisal and maybe closing costs. The home inspection and appraisal will be expenses outside of the loan and due at the time services are rendered. Closing costs include loan fees, closing attorney fees, a title search and various other expenses.
  5. Get pre-approved to find out how much you can afford. Before you even begin looking at Joint Base Charleston houses, get pre-approved. That way, you will only look at houses in your price range and you won’t end up falling in love with a home you can’t afford.  We have an amazing mortgage broker that we can refer to you!
  6. The seller pays the commission for your real estate agentAs a buyer, it is important to utilize the help of a realtor, and that help is free of charge to you. 
  7. Mortgage interest is generally tax deductible. This means you can sometimes reduce your taxable income by the amount of interest you pay.
  8. Know how long you plan to stay. Generally, it only makes sense to buy a house if you plan to stay for at least two years. However, in this market buying real estate can be a great investment.  We offer property management services as well!

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