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Scared first time homebuyer....

We're buying our first home and I'm nervous. Any advice from someone who has done this before?


Asked by lstrickland at 12:30 PM on Apr. 8, 2009 in Just for Fun

Level 19 (7,042 Credits)
This question is closed.
Answers (3)
  • get a fixed mortgage. none of this adjustable mortgage BS. if you are in a stable income go for it. do your homework and make sure you aren't getting ripped off!

    Answer by TippyD at 12:59 PM on Apr. 8, 2009

  • Just do due diligence, get the home inspection and appraisals done, talk to people in the town about the house and life in the town. I didn't find out until after I'd bought my house that the town water was undrinkable. It would have made a difference in my decision.

    Answer by riotgrrl at 12:32 PM on Apr. 8, 2009

  • Don't buy right now. With things the way they are (economically speaking), go rent something until things pick up. It's only meant to get worse, and honestly, as an example, if you/your SO were to lose your job, it's a heck of a lot easier to deal with not paying rent, than not paying mortgage. I only say this because we were looking to buy as well, until we did the math and realized (since we aren't having a nice nestegg for emergency purposes and renting was a better option than dumping all of our money to the banks, and being left with nothing.

    Answer by Anonymous at 12:43 PM on Apr. 8, 2009