Things to Buy After Home Buying

You may not realize it, but there are a lot of things to buy after home buying.

Many of the first-time home buyers with whom I work put down less than 5% to buy a home; at least four out of five opt for FHA loans. Making a smaller down payment can make more financial sense than liquidating assets or cash accounts, especially if those assets are under-performing in today's stock market. If cash is tight, it’s smarter to keep your powder dry. Why? Because you’ve only just begun to shop.

The items you will need to buy to stock a house differ greatly from the stuff you need for an apartment. Before closing on your new home, prepare a budget for that after-closing shopping spree. Just don’t buy anything until you close, and never, under any circumstances, acquire new debt such as charging a new sofa or washer and dryer while waiting for underwriting. Increased credit card balances could severely jeopardize your chances of closing on that new mortgage . . . read more about Things to Buy After Home Buying.

More Articles by Elizabeth Weintraub:

• Fixing Up Your New Home
  
• Painting, Carpet & Minor Home Improvements
  
• Are Loan Points Tax Deductible?

_{©Big Stock Photo}

Technorati tag: things to buy after homebuying