Buyers avoid ruin with 'smart ownership'

REThink Real Estate

Q: I just closed escrow on my first home — a condo. I am so excited, but I’m kind of freaking out, too. I’m pretty sure I should be doing something different, financially speaking, than I did before I became a homeowner, but I have no idea what that is. Please advise.

A: Congratulations! You picked a fantastic time to become a homeowner. Although a scary time, due to all the upheaval in the real estate market, it’s definitely a great time, in terms of the opportunities available to you as a buyer. You are correct, though — your job has just begun.