Checklist: Buying or Selling a Home

Buying or selling a house can be very stressful. Here are some tips that can help guide you through the process.

Things to Consider When Buying a Home

  • Set up a savings plan so you have enough to make a 20% down payment
  • Determine how much you can spend total
  • Determine your maximum monthly mortgage payment
  • Consider disability payments in case you can’t work
  • Purchase your mortgage/homeowners insurance
  • Consider liability insurance to provide liability coverage beyond what your homeowners insurance covers

Things to consider when Selling a Home

  • Determine the amount you will realize from the sale
  • Figure the amount that you will owe the bank/broker
  • Calculate your mortgage payoff
  • Estimate the selling price
  • Meet with your CPA to discuss the tax implications
  • Discuss with your financial advisor your options for investing proceeds
  • Check with your tax assessor to see if you are owed any refunds