10 Questions to Ask Before Buying Your First Home

Purchasing your first home is one of the largest financial commitments you will ever make, and the difference between a great decision and a costly one often comes down to the questions you ask before signing anything. Start with the fundamentals: what is your true, all-in budget once taxes, insurance, maintenance and closing costs are included? Many first-time buyers anchor on the sticker price and are caught off guard by the ongoing cost of ownership. Investigate the neighborhood as thoroughly as the property itself. Visit at different times of day, check commute times during rush hour, and research planned developments that could change the character of the area. Finally, never skip the inspection. A few hundred dollars spent uncovering structural, electrical or plumbing issues can save you tens of thousands down the line — and gives you real leverage in negotiations.