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There are many important factors to consider before taking the plunge on a home, even a dream home.
Here is what some experts recommend youshould factor in before making the jump.
As he argued, putting down 20% wont only save you on PMI but also interest.
Zigmont also noted to keep a balance between your down payment and an emergency fund.
Any interest you avoid is effectively the same as a tax-free return of that interest, Zigmont said.
For many people that may mean putting off buying a house.
And dont forget to leave yourself alittle wiggle roomfor surprises.
In the same vein, Sexton advised to conduct a thorough financial health check.
It is important to remember that home ownership is primarily a question of cash flow.
If you cant afford your monthly payment you will have trouble improving your financial position.
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