First time home buyers, think you’re ready to buy? If you’re questioning this, this would be the blog post to read through..
People buy homes fro all sorts of reasons. There’s not really a right or wrong answer here. But you should at least ask yourself these questions:
- Do you know your credit score? Do you have money for a downpayment? Have to spoken to a lender or your banker yet?
- What’s your budget? What are you currently paying in rent? What would you feel comfortable spending monthly on a mortgage payment?
- Do you have a neighborhood in mind? Location is important? Do you need to be near: schools, parks, downtown, highways, other amenities?
- How long do you think you’ll live in your first home? Is this a forever type home, or more of a stepping stone type home?
- Are you prepared to care for a lawn? Do you know approximately how much a water bill will cost? Other utilities?
- Are you aware of the typical maintenance that comes with owning a home?
Wanting to own your first home is all sorts of wonderful and it’s exciting, but it’s also a time to think practically. Ask your parents (I know, I know asking your mom may not be at the top of your list, but do it!), ask your friends, and best yet, ask your BUYER’S AGENT! Use them as a resource!