HOW TO BUY A HOUSE: These are things you MUST consider
A carefully selected house, bought with the help of a mortgage, can do three things for you. It can help you accumulate money by providing a forced savings program. It can make you a profit over the years if you happen to own it during a period of economic expansion, shortages or inflation. It is one investment that can be used as well as held.</br></br>For most people, buying a house represents the biggest financial commitment they will ever make. Therefore, every detail of the transaction is important. The house should be sound, attractive, usable and marketable. The mortgage will probably run for years, so every fraction* of a per cent in the interest 'rate means hundreds of dollars lost or saved. The monthly payment should not be so large as to be risky or so small as to unduly protract the term of the mortgage and pile up interest. The price, although sometimes brushed off as unimportant as compared to the size of the monthly payment, is obviously very important. Overpaying could result in a substantial loss.</br></br>1ÛÓTs the house attractive and a good buy at the price? 2ÛÓCan I afford it under the financial terms offeredf 3ÛÓWill I save money by buying instead of renting? Choosing a good neighborhood is probably the first step in choosing a house. Naturally you will consider availability of shopping facilities, schools, churches and transportation. But there are other things to consider.</br></br>Suburban and rural areas attract many. They provide ÛÏspacious living." They also present their problems.</br></br>Unincorporated communities donÛªt always develop the way the ads and the real estate salesmen predict. So if you move into such a community, donÛªt expect miracles. Sewage and water systems may be a long time reaching you and you may have to help pay for them. When they do reach you, it will cost you money to connect with them.