The New New
6 Things No One Tells First-Time Homebuyers
What I wish I’d known before starting the expensive, time-consuming, emotionally draining process of finding a house
I’ve always been a sink-or-swim learner, but when my husband and I started shopping for a home this summer, I quickly realized the limits of this particular strategy.
I thought I’d come in reasonably prepared and well-researched. I’m a freelance writer, and my husband is a public-interest law student, so I knew we’d have to look outside New York City, where we rent, if we wanted any shot of affording a place for us and our four — yes, four — dogs. (Opacity in real estate helps no one, so here’s where I mention that much of our down-payment savings came from money I inherited about a decade ago. Plus, my husband and I are white and benefit from several layers of privilege, including a system of inherited wealth and a lesser chance of being discriminated against during the home search and mortgage approval processes.)
By the time we narrowed our search to an area about 90 miles north of the city, I’d gotten myself up to speed on the basics: how much we needed for 20 percent down, how to factor property taxes into our monthly payment, money-pit red flags like a cracked foundation or a…
