Home equity…Everybody wants it, but what exactly is it, and how do you get it?Equity represents the degree of ownership an individual or entity has in an asset after subtracting any debts against
5 Signs You Are Ready To Be A Homeowner
Dated: July 5 2021
How do you know if you're ready to buy a house? Going from renting to buying a home is a huge milestone in people's lives. Not only does it signify that your financial affairs are in order, but it also means you’re finally ready to settle down. Here are 5 signs that it’s time to take the leap and buy a home.
You’re prepared to take care of a home
Owning a home is often a labor of love. Without a landlord to take care of maintenance issues, it’s up to you to handle every aspect of a home’s upkeep.
You’re tired of wasting money on rent
One of the biggest cons of renting a home is that you’re essentially throwing away money every month – or at least, throwing it into your landlord’s wallet. If you’re sick and tired of spending your hard-earned money on monthly rental payments, then buying a home may be the right decision for you.
You’re ready to stay in one place for a longer period of time
Tired of moving? Owning a home allows you to feel settled in a city in a way that renting simply does not. Living in one place for a substantial amount of time (and not wasting time with a move) also allows you to focus on other important tasks and goals, such as working hard at your job, spending time with loved ones and getting to know your community.
You have good credit
Establishing a good FICO credit score is an absolute must for homebuyers. Without strong credit, you’ll be hard-pressed to find a bank willing to lend you money to buy a home. Banks are also more likely to give those with good credit scores better interest rates. In general, homebuyers should aim to have a credit score above 600.
Think you're ready to buy a home?
If all five signs apply to you, then you are ready to purchase a home. Here are several tips for getting started with the home buying process.
Determine your budget – Take a look at your savings and assets to determine your budget. Don’t forget to keep important expenses in mind as well.
Find a good Realtor – Enlisting a talented and knowledgeable Realtor can make all the difference in your home buying process. Make sure to find a Realtor who knows the area inside and out.
Research your mortgage options
Research various neighborhoods
Robert started in the Real Estate Industry as a licensed Real Estate Agent at the age of 20. Throughout Robert's consistent commitment to his clients he quickly excelled in his career and obtained his....
Latest Blog Posts
Ideally, when you are selling a home you’d want to find a new place to move into. However, this isn’t always the case. Sometimes your home sells before you even finish searching for a new one.