Chitownproperty

Seven New Rules for the First-Time Home Buyer – NYTimes.com

The New York Times posted this useful checklist of things first time home buyers should think about before taking the plunge on a home. One of the more interesting points is that the old adage about stretching your budget to buy a first home–presumably because the appreciation in value would pay off in the future–isn’t always a good idea now that we’ve all learned home values can in fact decline, and rather quickly. The piece also includes helpful tips for planning expenses and adjusting expectations about your future income.