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Old 07-14-2011, 08:09 PM
  #23  
earthwalker
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Join Date: Jun 2009
Location: Perth, Western Australia
Posts: 10,357
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I'm not in the USA so I can't really comment on the state of your economy or housing prices etc. However, I can speak from my experience. Firstly, you need to get on the same page as your partner...if he is dead set against home-ownership (for whatever reason) and you are the opposite, well, there is a fundamental problem. You need to decide if you are both going in the same direction. Secondly, get into the habit of a regular savings plan and household budget. If you do decide to buy - buy a small, affordable, established home in a good area. If you can, buy the worst house in the best street. New is not necessarily better and if you are inexperienced in property, while you are building up your deposit, research, research, research. Then if you do make a decision to buy you will have no nasty surprises happen. Also, if committing to buying, get a pre-purchase property inspection by a reputable engineer/builder of your choosing - it costs - but if you are not familiar with building codes/construction it is a very sensible idea.

There are many things to consider. Always factor in potential dramas - backup savings for emergencies, money for insurance/rates/taxes/household utilities/repairs. Make sure your mortgage terms are clearly understood, factor in any rises in interest rates. Don't bite off more than you can chew...you don't need a huge glamour house and brand new furniture first up - and ditch your credit cards -debit cards are the way to go.

Sorry for the rant-fest, but nothing upsets me more than inexperienced buyers being fleeced by dodgy finance deals, rogue real estate agents or picket fence dreams than are unrealistic and down the track...detrimental.

Don't be timid about approaching difficult subjects with your partner. You are both adults with the right to your own opinions, but you are partners, so need to have a few common goals. Good Luck and I hope it all works out for you.
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