Considering when to buy a home is always a train of thought. Many questions come to surface such as, “Are you ready to buy a house? What can I afford? What area will the house be located in?" Suddenly we find ourselves with so many questions, but not enough answers. And that's where we experts come in...
Here’s a list of components that will help determine your next home purchase:
Planning to Settle in
Buying a home is not a compromise. Keep in mind that you can change a lot of things about a home but you can’t change its location. You should know you’re going to stay for a minimum of five to seven years when buying a home. Choose wisely, which ever place you decide to call "home sweet home." The longer you stay, the better because this will help you to build long-lasting relationships within the community.
Steady Career
Money is obviously an important factor. Having the money to make the purchase is great, but remaining at a steady career gives lenders confidence that you can repay a home loan. Remember, buying a home is a lot more than having a down payment and paying the mortgage; such as utilities, home insurance, and general maintenance. Simply give yourself a little more time to get ready financially to buy your home.
House Affordability
One way to do this is to answer the question “Is it cheaper to rent than to buy?” If buying is the best option then the next step is for you to contact a mortgage professional and make sure you’re preapproved. Pre-approval is free, and you can figure out exactly how much house you can afford.
You don’t want to miss out finding the right house to call your home sweet home!
If you want a full team of experts at your disposal to help you make the best buying decisions, please don’t hesitate to reach out to us. We look forward to hearing from you!
Comments(0)