This year you’ve decided to buy a house in Upper Marlboro and you’ve been thinking about buying a house for quite some time, but you’re not sure about how much money you’ll need, where to start and other unanswered questions that have made you unable to take action.
It usually starts like this…your friends told you they bought a house in Upper Marlboro, or Upper Marlboro has great schools, or there are large homes in Upper Marlboro and so you’re now curious about buying a home in Upper Marlboro.
Having the desire to know something propels you to ask questions to learn more about the subject and to help you to secure about a decision you’re about to make. To help to alleviate some of the stress, ask yourself these important questions:
1. Which neighborhood in Upper Marlboro make sense for me and/or my family? You may love a neighborhood for its flourishing streets and family-friendly atmosphere, but what if it adds thirty minutes to your commute? Are the schools good? What are the crime stats like? How convenient is it from shopping and public transportation? Don’t view a neighborhood with rose-colored glasses based on a single quality you like.
2. When can you move vs. when would you like to move? If you are leasing a property, when does the lease expire? If you own a home, do you need to sell it first? How close is your job? These factors impact the timeline for a purchase so be as reasonable as you can.
3. How much do we want to spend each month on home expenses? If you’re already renting a house, chances are you’re familiar with other expenses outside of paying rent. Create a budget or income and expense sheet and include items such as maintenance, utility bills, insurance, groceries, and entertainment. These are just a few things you need to consider.
4. What we want to have vs what need to have? You may think you want extra bedrooms for guests and a home office, but which one is more important? Decide on what you want to have against what you need to have.
5. What’s our long-term ownership goals? Are you settling in for ten years, or do you think you’ll need to move in four years? While you can’t predict the future, you can make some estimates. Those estimates will help you understand how much home you should buy, what kind of down-payment you’ll want to have, and what neighborhood is best for you.
I’m more than happy to help you think through questions. Contact me for help today.
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