Are You Ready For Home Ownership?

The decision to buy a home is one of the biggest that a person makes. If you have been renting, many tenants are finding that with rising rental rates and record low rates, it is more affordable to own versus rent. 

Owning a home may be your dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, you need to ensure that you are financially and mentally prepared for the responsibilities that come with it.

Some people have a notion that home ownership is like renting, but with the power to have pets and paint the walls whatever color you like. However, while these privileges are available to homeowners in most municipalities, they come with the responsibilities of a mortgage, taxes and home maintenance. When something breaks, there is not a landlord to call. Preparing for home ownership requires you to take critical stock of your finances and your expectations.

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Questions To Consider Before You Buy

Are you ready to own a home?  

Owning your own home is about more than just being able to decorate any way you like; it's about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It is a financial and emotional commitment. 

How much can you afford?

The first step of the home buying process is to find out how much you can afford if you are financing your new home. You can see a quick look at the financial numbers for getting a mortgage in the meantime. This is important that you consider the financial portion before you fall in love with a home. Have a pre-approval not a pre-qualification to minimize surprises after you have made an offer. The lender will go through the process explaining the approval process, down payment needed and closing costs. Things that can impact what you can afford long term includes associaiton fees, the condition of the property, insurance expenses and possible tax increases. 

Do I have the reserves to afford to buy a home?

If you are spending all of your money for your down payment and closing costs, then being a homeowner is likely going to be financially frustrating. Something will break or need to be repaired. 

What is important in your new home?

Getting clear on what a buyer wants is important. There is what we want which can be a long list however what we really need to find the right home comes down to 3-5 must haves. Our consultation will help bring clarity.

We Can Help

You need a good agent who will work hard for you. Our real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership.

Are you aware that you can have an agent represent you without having to pay the commission?  Not all real estate agents are buyer's agents.  How can you tell?  If you did not have a consultation, the agent likely represents the transaction, not you. 

When you hire us to help you buy your first home, we want to know what you want and how much you can afford. Then we'll find a way to merge these two priorities and find a residence that you'll enjoy owning.

Contact us for more information about purchasing your home.