2 RESEARCH YOUR OPTIONS Determine what you can afford and where. Buying and financing a home are closely related, so it is very important to review your current financial situation to understand how much you can afford. There are three key components that determine the start of all searches: LOCATION – where do you want to live? TYPE – what type of home do you want? PRICE – what can you afford? Only you can determine the importance of each. Once you start to research your options, you will soon know if your expectations are realistic.
LO CAT I O N , LOCAT I O N , LOCAT I O N Why does location matter so much? When you buy a home in a good location, it is usually a solid, long-term investment. Perhaps more than ever, location is the key factor driving price increases. In a strong housing market, homes in particularly desirable areas are more likely to see above average price increases. In weak housing markets, these homes tend to retain their value better.
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