Don't over extend yourself on your first home (or any home).


DON'T OVER EXTEND YOURSELF ON YOUR FIRST HOME.


There are a lot of expenses with home ownership that get taken for granted when renting. You don't want to put yourself into a position where you're already stretching to make a mortgage when you find out that YOU are going to be on the hook for maintaining everything. A dream home that costs too much quickly turns into a nightmare home if it isn't maintained. The best thing I did was buy a house that we could easily afford. I've been able to pay it down faster and have funds available should anything large go out (water heater/furnace). Another point, which I struggle with myself, is if you can easily afford and maintain your home, then you can more easily keep it in sale ready condition. My house nearly doubled in value this year and it would have been the perfect time to sell and move into a different market, BUT, I never got off my butt to refresh and keep near sale ready condition, so I'm still here.