When your thinking about purchasing New Hampshire real estate - a home or condo - in Strafford County, Rockingham County, Portsmouth, Dover, Exeter, Hampton, Stratham, Greenland, Rye, New Castle, Newington, Durham, Madbury, Lee, Newmarket, North Hampton, Rochester, Barrington and beyond, please keep these very important questions in mind: 1. Will you be living in your new home long? If you have to move soon, you may have to pay money to sell your New Hampshire home again. Unfortunately, in a short period of time, the value of your New Hampshire home may not have appreciated enough to cover the costs that you paid to buy it. 2. How long will your new home meet your needs? When buying real estate in Strafford County, Rockingham County, Portsmouth, Dover, Exeter, Hampton, Stratham, Greenland, Rye, New Castle, Newington, Durham, Madbury, Lee, Newmarket, North Hampton, Rochester, Barrington and beyond, you should think about what features you’ll need to satisfy your lifestyle now and even five years from now which will help you save in the long run. 3. Is now the right time to buy a home financially? There will always be a lender out there that will lend you money. You need to you rate your own financial picture as healthy. 4. What about a lender? You should find a lender that can customize your loan to your particular situation. Often lenders use a "28/36" rule which means that your monthly housing costs can't exceed 28% of your income, and your total debt cannot exceed 36% of your total monthly income. If you are not sure who to use for a lender, click on the “Need a Loan?” button and I’d be happy to recommend a few lenders for you. 5. Where will the money for the transaction come from? Typically New Hampshire homebuyers will need money for a down payment and closing costs. However, there are many different types of loan options on the market today and having a lot of money saved for a down payment may not be necessary but you will need to prove that you are a good financial risk. 6. What will the ongoing costs of home ownership be? Maintenance, improvements, taxes and insurance are all costs that add to a monthly house payment. If you buy a condo or townhouse in Strafford County, Rockingham County, Portsmouth, Dover, Exeter, Hampton, Stratham, Greenland, Rye, New Castle, Newington, Durham, Madbury, Lee, Newmarket, North Hampton, Rochester, Barrington and beyond, a monthly homeowner's association fee may be required. If these additional costs are an issue for you, you can make choices reduce or avoid these fees but you will need to be sure to make me aware as well as your lender aware so we can help you limit these costs. If your still not real sure if you should buy real estate in New Hampshire after answering these questions, you may want to consult with a lender, an accountant or a financial planner to help you determine how a new home purchase fits into your overall financial goals. Or, feel free to register to receive "5 Things You Should Know Before Purchasing Your First New Hampshire Home" below to receive additional information.