Aubrie Pick

From the finances to the school district, what you need to ask yourself before embarking on your first home purchase This story was originally published in June 2016 and has been updated with the most recent information.
Buying your first home is a big deal, and very exciting, but you shouldn?t rush into this decision. Owning a home might not be something for which you are ready, even if you can afford it. To help first-time homebuyers figure that out, we queried real estate experts to compile the eight key questions every potential homeowner should ask before making an offer on their first home.
Why am I buying a home"
?I know it sounds silly,? says Elizabeth Kee, a real estate broker at CORE in New York City, ?But I ask everyone this question first. There are many responses, and you'd be surprised to know that many times I end up talking people out of purchasing when they are buying for the wrong reasons.? One example she shared is people who want to be investors because they heard flipping New York real estate is very profitable. ?[It] can be true only if you never have to sell, and you can sell when the time is right,? Kee says.
Can I afford to buy a home"
?I always start with the financials because as future buyer, or potential future buyer, you have to know whether you qualify to purchase or not,? says real estate agent Elice Shikama of RE/MAX in Franklin Lakes, New Jersey. ?Without being able to qualify, there?s no further steps you can ...