By Kevin M
Despite hints and statistics showing a somewhat improved housing market, now is not the time to merely assume that the market is teeming with good deals and that a return to the real estate price spiral will soon cover any mistakes made in the purchase. The market remains sluggish in most areas, and if it remains this way for several more years, getting the best deal is more important than ever.
The most important moment in the ownership of a home is the purchase. A good deal at purchase can reap big rewards in the future—especially if prices don’t rise appreciably in the near future. You only have one shot at making a good deal, so make it the best you can.
But how do you get the best deal on a home in this market? The same ways you would in any type of market.
Ten Financial Mistakes You Can’t Afford to Make
By Kevin M
There are strategies we need to put in place that will help lead us where we want to be in life, but just as important is problem avoidance.
When making our plans, we can project working in a certain career, earning a certain income, investing and having X amount of money by age Y, living in a certain size home, and even planning out a career for our children. But few of us ever give serious practical consideration to the things we don’t want to do!
Two or three major mistakes can derail the most well intended plans so it’s best to play devils advocate from time to time and seriously consider the question “what can go wrong here?” It should be done with the same level of intensity that we give to the plans that we hope will move us forward.
Below is a list of ten financial mistakes I’ve culled over the years from my experience in public accounting, from working in the mortgage business and from a few dives into an empty pool I’ve taken on my own road of life.
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