Tuesday Tidbits for Adventures in Real Estate🏡
Today we have some information for Buyers or anyone considering becoming a home owner in the near future:
Don’t try to time the market. It is impossible to know not only if, but when, real estate prices could collapse or skyrocket. The answer is simple- buy when you are financially ready.
To help figure out if you are financially ready to purchase a property, consider the following:
1. Have you run the numbers? This includes having money for a downpayment, a good credit score & extra money for closing costs, as well as career stability. Your mortgage broker can help you figure out whether or not you are in a financial position to become a homeowner. Don’t know any mortgage brokers? We can help you get in touch with one!
2. Do you plan on moving within the next three to five years? If so, buying may not be for you at this time. Homeownership works best as a long-term proposition.
3. Are you ready to take on more responsibility? Owning a home means not just paying a mortgage, insurance and taxes- maintenance is also important. You will need to take care of such a large investment; this involves anything from mowing your lawn once a week to cancelling plans if your dishwasher overflows.
Buying a house is a wonderful accomplishment, but also a big life decision. If you feel like homeownership is in your near future, give us a call! Let us help you navigate this adventure & fall in love with where you live!