Alison Bentley

If you’re a renter and planning to buy your first home, it’s undoubtedly a big step in your life. It also raises an important question: what happens to your lease if the right home comes along before it ends? The short answer: you can break a lease when you buy a house, but purchasing a home doesn’t automatically let you leave without penalties. What happens depends on the terms in your lease and the laws in your state.

Whether you’re considering buying your first house or are looking for a new place to call home, you may be wondering if buying land is right for you. As a first-time land buyer, there are several key differences to know before embarking on your search, from zoning and utilities to financing and site conditions.

Buying a home at auction may give you a lower price, but you could risk overpaying. Auctions are held online or in person, but you’ll need to show proof of funds in advance. Research the property in advance to identify red flags, such as liens or major repairs.