Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:
- Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.
- Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.
- Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.
- Include a maintenance budget. Even new homes need upkeep and repairs.
- Buyers who can’t afford their dream home now should opt for a starter home where they can save money each month for what they really want.
- Consider a property that can be expanded and improved down the road when money is available.
- No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.
Source: The New York Times, Ron Lieber (09/2009)
Communities of SW Atlanta within NPU-T:
West End/historic West End
Booker T. Washington/Ashview Heights
Villiages of Castleberry Hill
Take a peep and find out what we are talking about in town Atlanta.
Crime prevention and safety near the Atlanta University Center and Georgia Tech campuses will be the focus of a town hall meeting scheduled for 7 p.m. Monday by area City Councilman Ivory Lee Young.
Atlanta police will talk about what they’re doing to prevent crime, and they’ll update residents on recent shootings in the area.
The meeting will take place at the Foundry at Puritan Mill, 916 Joseph E. Lowery Blvd.
For more information, call Young’s office at 404-330-6046.
By Eric Stirgus
The Atlanta Journal-Constitution
You’re invited to celebrate a Beltline Night Out with NPU-T, thanks to Turner Broadcasting! NPU-T received a generous amount of tickets to Tuesday, September 15th game of the Braves vs Mets!
If you live within NPU-T- West End, Beecher Donnelly, Collegetown, Booker T. Washington, Villages of Castleberry Hill or attend one of the colleges within the AUC and would like a ticket- please send me an email(email@example.com) or txt at 404-414-32893