1. Don’t buy beyond your means. Just because on paper you qualify for “X” amount of a mortgage payment doesn’t mean you have to go that high. Are you comfortable with paying that amount? Borrow only what you feel comfortable taking on.
2. Don’t treat your home like a bank. Buy for your lifestyle and for long term investment. Quick profits do not always happen and should not be the main goal of purchasing a property.
3. Don’t try to time the market. By the time most people sense a turn in the market, the tables have already turned. Buy for long term and buy at a time that seems right to you.
4. Don’t get an exotic or confusing mortgage. If it sounds too good to be true, it probably is. Use a reputable local lender and ask all the questions you want. It is important for you to be able to understand the type of loan you choose.
Thank you for reading the First Weber Wisconsin real estate & Wisconsin living blog for four “don’ts” when buying a home in Wisconsin. Happy house hunting! Let us know if we can help in anyway.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Central Wisconsin, Northeast Wisconsin , Western WI/MN, Michigan’s Upper Peninsula and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com photo