Realtor® Tom Kile ~ Amarillo Texas Real Estate
There’s not much that can be more rewarding than homeownership. There is a big thrill when walking into your own home for the first time. You can do many things in and around your own home such as enjoy family time, entertain friends and relatives, grow a garden and so much more.
While we envision all these lovely things to do in our new home, we often leave out the bad visions of things that could go wrong. No one likes to think they could lose their home because they fall victim to job loss or major illness. Therefore, it is very important to buy a home you can afford in any event.
When it’s time to search for a home, don’t look for one that will take every last dime you have to buy it. This could possibly put you in a jam in the future. Look at where many Americans are today because of buying more than they could afford.
So, ask yourself these questions before you buy your next home:
* I have enough money in my current job to meet my mortgage payments, but will I still be able to make my payments if I am laid off and have to find a new job?
* Will I have enough in savings or other resources to carry me over until I find another job if I lose my current job or fall ill?
* Will the house I buy need many repairs? If so, do I have enough finances to cover the repairs and still have money in my savings?
* Will my car payments ever interfere with my mortgage payments?
Owning a home can be a huge responsibility, but it can also be very rewarding. If you consider all these questions before you buy, you should be able to get by in case of any unforeseen emergency, whether it be a job loss or a major illness.
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