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Real Estate Rules to Live By

Posted on June 24, 2014

for saleToday’s real estate market has reached the point where Millennials are the newest primary home buyers. This generation is unique and not necessarily in the ways that they enter the real estate market, but rather the ups and downs they have experienced with it. From boom to bust, from wide scale under-financing to subprime lending, it is safe to say that this generation has plenty of reason to question the rules that will apply to their future Northwest Florida real estate endeavors.

Luckily, rules have been established and they are the same ones that have been overlooked in years pasts. First things first, if you cannot afford it, do not buy it. Keeping good financial records will help. Likewise, it is important do your research. You want to learn as much as you can about a property and the area. Also, remember not to neglect the ongoing costs of homeownership. This includes the mortgage payments, property taxes, insurance, maintenance and upkeep.

It sounds simple enough, but after a housing bust these rules may seem new again. Perhaps the best way to approach the real estate market is how you approach life. Stay organized and think ahead. For more first time home buyer tips, contact a RE/MAX Southern agent at 850.269.9999.

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