Low Mortgage Rates, A Blessing For New Home Owners.

 Last year has been a blessing in disguise. We have been looking to buy a new house and the only thing stopping us for so long was the mortgage rates, soon enough pandemic happened, and the drop in mortgage rates was something that made it easy for us to consider buying a house,
but there was a drawback, the demand to buy a house has risen due to low mortgage rates but there aren't as many houses that are being sold at this time.
As we were talking to our real state agent he mentioned it is a seller's market and soon enough housing market will be out of this bubble. Now I am just waiting for the right time and of course the right house. We short-listed a couple but before we could put an offer they were sold or contingent.
Since I have been searching for a house for a while now I have learned a thing or two. 

1) Not to buy a house that is outdated, once you buy it, for a few years you will be just focusing on paying off the loan.

2) Locality, Locality, Locality.

3) get a proper inspection so there are no surprises.

I have been keeping myself up to date since we are actively looking to buy, just read today that the housing market is fizzling and I can't wait to get my dream house.

Now if it keeps going down I am hoping to buy a decent house soon as it says,

 Mortgage applications to purchase a home dropped 5% for the week and were 17% lower annually. That is the slowest pace since the start of May 2020, when lockdowns were in full force.


Buying a house doesn't mean, that is all there is, it is a full package. Most important is how to calculate the right amount of mortgage and other expenses that come with it. I started with a google sheet but trust me it was not easy as I constantly had to calculate and was making a mistake,(math has never been my favorite subject) so I searched and came across a Mortgage calculator. I must say it was a lifesaver. The clean and easy-to-use site with a great interface helped me to stay at the top of my game.

The site is extremely easy to use and does most of the calculations for me. It covers all kinds of calculations that are related to mortgages. 
Looking forward to learning more as I step in, paying off loans and mortgages once I finally buy a house.

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