Home purchase

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Buying your first house is so darn exciting! Keep an eye out, though—as someone who doesn’t already have experience buying a home, you might overlook some of the smaller things that can really spell trouble down the line. The first house I owned was a renovated summer cottage—and it had so many problems that I didn’t know about until I moved in: faulty wiring, walls insulated with old clothing behind the drywall, a shot well, a finished attic with no ventilation.

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There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.

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Foreclosure properties can be a potential goldmine, even for a novice real estate investor. Since foreclosure properties are sold for well under market value, making a purchase and repairing and cleaning up the property can mean large profits on resale.

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