When it comes to buying a house, there are a lot of things to consider: location, size, amenities—the list goes on. But one thing you shouldn’t overlook is the cost of the property.

It’s easy to get caught up in all the other factors when you’re looking for a new place, but it’s important to remember that buying an expensive property doesn’t always mean you’ll save money in the long run. So how do you figure out if what looks like a good deal is actually going to be a good investment?

Property Tip 2

Crunching the numbers is key. On top of knowing how much your monthly mortgage payments will be, you should also calculate how much money you’ll need for utilities and other expenses that come with owning a property. If this amount is high enough that it would take away from your savings goals or make them impossible to reach by the time you retire, then moving into this property might not be such a good idea after all!

Property Tip 3

To avoid making decisions based on emotion rather than facts, make sure to crunch those numbers twice—and maybe even three times!