A Financial Guide to Buying a Home

The real estate market isn't what it used to be. Our financial guide will help you make the right decision for your family.

Introduction

house for sale, sold

Deciding whether to buy a house -- and when -- ranks as one of the most important decisions your family will ever make. To make the best decision, you should investigate a wide range of options. Parents need to recognize that traditional strategies for home ownership no longer apply, says Barbara Steinmetz, a Burlingame, CA-based certified financial planner.

Consider the big picture: According to the U.S. Census Bureau, home ownership is at an all-time high: 68% of Americans, compared to 64% in 1990. (Since many people can't -- or won't -- ever buy a home, every percentage-point increase is huge to economists.) It may seem surprising, given the number of people who've lost their jobs in recent years, but home buying has been proceeding at a frantic pace. The cause: historically low interest rates. Yet purchasing a home, especially in a seller's market, is still a challenging process. So let these new rules guide you.

Parents Are Talking

Add a Comment