5 Tips for a Healthy Financial Approach to Buying a Home

Follow these tips and speak to your Realtor and financial advisor to ensure you make decisions you can be happy with over the long-term.

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Buy for the long-term.

There are a lot of costs associated with purchasing a home. They are definitely worth paying if you plan to live in the home for a period of years. But if you think you might want to move soon, buying will actually wind up costing you more than renting. A general rule of thumb is that it takes at least three years to recoup your costs. Most Realtors will tell you that you should plan to live in your home for at least five years after you buy.

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