What’s best for you depends on several factors: For example, are you the sole purchaser, or are you buying it with another individual? If it’s just you, make sure you have a will to direct where the house should go in the event of your death.

Titling your home: There are several ways to own a house.

In the latest installment of CFP Board’s “ Let’s Talk Planning ” blog and its “Financial Planning is for Everyone” series, Blayney shares three aspects of home ownership to consider when you close on and get the keys to your new home.

A home is a real asset that requires attention from you, its new owner.” “However, the demands of home ownership don’t stop there. “Your first focus, no doubt, will be on those new mortgage payments, and reworking your monthly budget to carve out the needed funds,” says Blayney. As with other milestones, such as getting married or having a baby, new homeowners must face the financial realities that come with investing in a home of their own.Ĭertified Financial Planner Board of Standards (“CFP Board”) Consumer Advocate Eleanor Blayney, CFP ® provides guidance on the “realty realities” that all new homeowners should be prepared to address.

Preparing to buy your first home is one of life’s most monumental steps. CFP Board Consumer Advocate Offers Financial Advice for New Homeowners

Home budget workbook by eleanor blayney