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Do’s and Don’ts for First-time Homebuyers
Purchasing your first home is an exciting milestone. However, home buying is
no simple task, and many first-time purchasers fall into common, sometimes
costly, traps.
So, before you start searching for your dream home, keep in mind the
following do’s and don’ts:
DO
Get pre-approved. When shopping for a home, it’s important to
know what kind of credit you have and your overall budget. In some
cases, real estate agents won’t even work with you until you’ve been
pre-approved for a mortgage.
Get a real estate agent. While it’s true that real estate agents aren’t
required to buy a home, they can be invaluable—especially for first-
time buyers. A good agent will walk you through the necessary steps
and offer market insight and specific advice.
DON’T
Get overexcited. It’s common for first-time buyers to act on their
emotions. But when it comes to such a large purchase, acting on
impulse can be dangerous and commonly leads to overspending.
Experts recommend that buyers only close on houses they can see
themselves in for at least five years.
Get careless about money. When purchasing a house, you want to
avoid making other big purchases before you are approved for a
mortgage. In addition, many first-time buyers forget to budget for
closing costs. Consider putting aside anywhere from 1 to 4 percent
of the purchase price to cover them.
Keeping these tips in mind will ensure that, when it comes time to sign on the
dotted line, you made all the right steps to secure your dream home.
Fuel-saving Strategies
Fuel costs tend to fluctuate, and you never
know when the price to fill up is going to
break the bank. As such, it’s important to
save on gas whenever you can by doing the
following:
Lighten your car by removing heavy
items from your trunk. This can
help improve your car’s overall fuel
economy.
Avoid idling for long periods. Idling
for just one minute consumes the
same amount of gas as starting
your engine.
AUTO
Preventing Auto Theft
Cars are a popular target of crime because they are relatively easy to steal. To
reduce your risk of becoming a victim, use the following tips:
Never leave your car running and unattended. Stay up to date on oil changes.
Never leave your keys in the car or ignition, even inside a locked
garage. Always roll up your windows and lock the car, even if it’s in front of
your home. Drive slower. You can improve your
fuel economy by approximately 20
percent by reducing your highway
speeds.
Park in high-trafficked, well-lit areas, if possible. Consider anti-theft devices such as steering wheel locks or fuel cut-
off switches. Carpool or ride a bike to work to
cut the car out of the equation
completely.
Purchase an auto alarm system if you live in a high-theft area or
drive a theft-prone vehicle.
For additional protection, a strong auto insurance policy can help you recoup
some of the losses associated with a stolen vehicle.
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If you are in the market for a new car, be
sure to compare fuel economy ratings of the
vehicles that interest you.