Nigel Ricomas

Fun facts about buying a home... Home is where the heart (and equity) is. The average American family's net worth is in home equity. A homeowner's net worth is over thirty times greater than that of a renter.

Useful tips for first-time home buyers...Aim to have three to six months' living expenses in a savings account, even after you close. Depleting your emergency or retirement savings to make a large down payment is a risk best avoided. Putting 20 percent down to avoid paying private mortgage insurance(PMI) usually translates into savings on the monthly mortgage payment, but it's not worth the risk of living on the edge.

Useful tips for first-time home buyers...Visit the neighborhood multiple times. If you are unfamiliar with the neighborhood, it may be a good idea to check out the area at different times of the day. You can learn some valuable environmental information about your chosen property.

Useful tips from actual home buyers...Don't just look at houses, research their neighborhoods. Determine what neighborhood vibe is right for you.

“Failure is the condiment that gives success its flavor.” – Truman Capote