Home buying 101 IQ test
This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.
Kiplinger.com put up their 2009 Home Buying Guide this week, which includes a quiz, ‘Should You Buy a Home?’
At first I thought it was kind of corny and would just be pro-buying hype, but I took it, and I think the quiz is actually a pretty good barometer for anyone considering buying. My take: If you don’t get 10 out of 10, go back and do some more homework -- you aren’t armed with the most basic knowledge.
Not to give any answers away, but if buyers over the last couple of years had followed these guidelines regarding amount of down payment, length of time to plan to stay in a house and how much to budget for closing costs, there would be far fewer foreclosures today.
-- Lauren Beale
Thoughts? Comments?
