If you’re interested in purchasing a condo, you’ll have to pay maintenance costs monthly regardless of whether anything needs fixing because you’ll be part of a homeowner’s association, which collects a couple of hundred dollars a month from the owners of each unit in the building in the form of condominium fees. Before signing the homebuyer’s agreement, it would be wise on your part to ferret out any and all hidden fees and incorporate them into your budget.
NOT KNOWING YOUR CREDIT SCORE
If you apply for a mortgage loan without checking your credit score, you could end up paying a lot more than you expected. It is best to perform a credit check beforehand. Take special note of the information regarding the importance of good credit in applying for a home loan and take all necessary steps to repair credit problems prior to home shopping.
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