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Home Buying For Dummies, 4th Edition by Ray Brown, Eric Tyson, MBA

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Chapter 15

Ten Financial “To Do’s” After You Buy

In This Chapter

Going on a financial diet

Resisting solicitors

Refinancing when the time is right

Documenting your home improvements

Although it may have seemed that the day would never come — here you are, a homeowner. A homeowner — can you believe it? Go ahead and pinch yourself!

Perhaps you’re already correcting your friends who ask how it feels to be a homeowner. Most new owners say, “Well, the bank owns more of the house than I do.” Actually, you own 100 percent of the property — you just owe the mortgage lender a bucketload of money! Trust us when we say that although it may seem like a lot of money now, it won’t seem that way decades from now. You’ll be glad then that you decided to buy rather than continue renting. What you owe today, you’ll ideally own free and clear in 30 years, if not sooner.

If you think that the hard part is over after you buy a home, you may be in for a surprise. Moving probably wasn’t a picnic, but moving is just the beginning of your quest to transform your new slag heap into a beauteous home.

beware.eps As a new homeowner, you must sidestep the many solicitations that will be winging your way. Unfortunately, when you buy a home, you end up on a zillion or so mailing lists because your home purchase is a matter of public record. Some communities even publish home sales (complete with buyer and seller names ...

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