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Stay Focused on Home Purchases THUNDER BAY - MONEY - The housing market is hot, in part to low interest rates and home prices that were low for many years. Given that the purchase of a home is typically the largest purchase one will make in their life, jumping into the market and competing against other aggressive bids can be intimidating. The last thing anyone would want when buying a home or property is to have regrets afterwards, especially for those first time home buyers. Here are some tips to consider for first time home buyers. Make sure to get Pre-Approved It would seem like it's a given, but many first time home buyers will assume they'll know how much they can spend on their home based on online mortgage calculators. It's important to setup a meeting with your bank or mortgage specialist, since they can provide information to you on what price range you should be looking in, and specifics to consider like property taxes, and other monthly expenses you'll want to factor in. Consider Renting for the Short-Term Despite all the good that comes in owning a house, such as building home equity, it's important to ask yourself how long you plan on staying in that house. If your long term plan is still not known because of your job, or personal situation, it may be better to rent in the short term. Buyers need to realize all of the expenses renters don't need to worry about like property taxes, and home owners insurance. This also isn't considering any unforeseen maintenance costs that could arise. Skipping the Home Inspection Many new home buyers may try to cut costs and skip out on a home inspection.

You're probably something of an expert in your own field-and that field probably isn't insurance or annuities. How, then, can you work through the minefield of clauses, guarantees, and pages of small print? Here are nine ways to start. While you may feel uncomfortable doing this, you're the one putting down thousands of dollars, and you have every right demand this. Remember: caveat emptor! It's the buyer who must beware; you must protect yourself. Ultimately, the language in the annuity contract is what matters, but it doesn't hurt to memorialize your verbal agreement with the agent in writing. Hopefully your agent is totally honest and will help write the agreement, and both parties can sign and date it. If the agent starts to waffle, trust your instincts.