How To Know If Youre Ready To Buy A Home

Dated: 07/12/2016

Views: 92

Buying a house is one of the largest financial decisions of your life; but how do you know when you’re ready to buy a home? 5 questions to help you find out. 

1: Is Your Financial House In Order? 

    How much credit card debt do you have?

    How about auto loans, student loans, or personal loans? 

    How about your credit? Are you rocking a 820 credit score or scraping by with a 620? 

2: Have You Saved Enough For A Down Payment?

     As you probably know, today you can buy a home for as little as 3.5 percent down payment. On a 

     $200,000 home that’s just $7,000. 

     But don’t forget the closing costs, insurance, taxes, and money for repairs and furnishings to turn 

      The house to a livable home. 

3: Can You Really Afford The Payment?

      Property taxes - Insurance -HOA (homeowner’s association) - Water, sewer and/or garbage

4: Are You Ready To Settle Down? 

        How many job changes have you had in your life?

        Until you find that one career you plan on keeping for a while you may find that your next job may 

         create a two hour commute or, worse, lead you to another city or state

5: Can You Fix a Leak? 

     The ability to fix problems yourself or

      The resources to pay others to fix them.

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