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