Suze Orman Buying A Home

When it comes to big-ticket purchases, it gets no bigger than buying a home. That makes it seriously important to avoid costly mistakes. Here are four expensive home-buying mistakes I want you to steer clear of. Follow my advice and you could save tens of thousands of dollars and ensure you will never be house poor:

suze orman buying a home

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Homeownership Vouchers: The scheme offers subsidies to use toward buying a home to low-income Americans who are first-time buyers. For more information, contact your local Public Housing Agency (PHA).

Dreaming of buying your first house? Owning a home may feel like a distant pipe dream to some. But with conscientious planning and budgeting, it's a lot more achievable than you think and is actually a key investment for your personal wealth.

But there are several factors to bear in mind before buying a home, from knowing whether you can afford it to having an "eight month emergency fund" (more on this later below) in case anything goes wrong, which is key, Orman explained.

I thought 2008 would teach people to have an emergency fund, not run up debt, to stop buying bigger houses and new cars all the time. I thought for sure that would happen. But as the stock market started to go up and go up, and they saw their 401(k) and statements expand, all of a sudden they felt rich again and they felt like they could do anything. They could go out to eat and could get bigger homes. 041b061a72