5 Things to Consider Before Buying a House

Understanding the Best Time to Buy

Purchasing your first, second, or forever home is likely the biggest undertaking and financial investment you can make. There are so many factors to consider given the emotional and financial impact a new home could have on your life. Where you decide to put your roots down affects everything from the friends you make, your commute, your children's friends and school, and more. Everyone's circumstances are different, but here are a few important things to keep in mind when buying a home.

1. Savings - Make sure you have enough money saved up not only for a down payment but for costs that come with homeownership.
2. Location - Scope out the neighborhood, surrounding area, nearby schools to find out if it fits your lifestyle.
3. Rates - Familiarize yourself with the current interest rates, which will weigh heavily on your monthly mortgage payment.
4. Taxes and cost of living - Your home's property taxes will also affect your monthly payment and can vary by location.
5. Budget - Anticipate what your budget will look like after the purchase of your home.

All things considered - no matter where you are in your home-buying journey, Wescom has your goals covered with up to 100% financing, a variety of loans options, free pre-qualification and webinars, and a guaranteed 21-day close.1 To get started, schedule an in-branch, virtual, or telephonic appointment today!