Five important questions to ask yourself before buying a house …

At Canton Co-operative Bank, our goal is to be a resource for homebuyers – to help you understand your options and make financing decisions that are best for your unique situation.

Twice a year, we host an information session for people planning to be buying a home. At a recent program, we talked about the “5 Major Questions To Ask Yourself Before Buying A House,” including:

1> Do you have a pre-approval from a trusted local lender? Most real estate agents will not take a buyer out to look at homes unless they have been pre-approved for a mortgage. This should be every future buyer’s first step.

2> What do you want in a new home? Some people already know and others benefit from going out and looking at properties – online, at open houses or with a real estate agent.

3> What are your long-term goals and plans? Knowing the answer to this question can affect everything from whether renting would be better than buying (if you plan to leave the area shortly, for example) to what mortgage product might be best for you.

4> Are you comfortable with the stability of your finances? Home ownership comes with expenses beyond just the mortgage payment. The goal is to feel reasonably-certain that you will be able to comfortably cover these expenses with money left over for day-to-day living.

5> Where is your house-buying budget going to go the furthest, considering your needs and wants? Sometimes a slight shift in location or house style can make all the difference. Even if you’re sure you want a certain kind of house in a specific area, a good real estate agent will help you consider the alternatives.

We’ve been helping people buy houses since 1891 in every kind of market. If you’re thinking about buying a home soon, we’d love to be a resource for you. Email me, come see us or call 781-828-8811 x4.”

Anabela Vargas July 19 2022
Anabela Vargas, VP/Senior Lending Officer
NMLS #582849 – Falo Português
Canton Co-operative Bank NMLS #721437

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