Are You Ready To Buy A Home?
As a REALTOR® I understand the unique issues and challenges families face in finding a place to call home. Through continuing dedication, I can help open the doors to housing opportunity for people at all income levels in the Memphis and North Mississippi area.
Are You Ready?
Owning a home is part of the American Dream. But not everyone is ready for the commitment and financial obligations of homeownership. Before you meet with a REALTOR® or apply for a loan, you need to weigh the benefits and costs of homeownership, look at how you spend your money and ask yourself a few questions. If you buy a home before you’re ready, you risk not being able to repay the loan and losing your home. Be honest with yourself. Are you ready?
Buying a home is a major decision. It is probably the largest purchase you will make during your lifetime. More than two-thirds of the people in this country own their own home. You too can own a home if you follow the steps in this guide. The first thing you need to do is ask yourself a few questions to see if you are really ready to begin the process.
|
YES |
NO |
Do you have a steady, reliable source of income? |
||
Have you been employed regularly for the last two years? |
||
Do you have a credit history? |
||
Do you pay your bills on time? |
||
Is your total debt (all credit cards, car loans, etc.) manageable? Can you afford those debts and a mortgage? |
||
Do you have money saved for a down payment and closing costs? |
||
Can you afford both the mortgage and other expenses, such as electric, water, repair and maintenance costs? |
||
Do you plan to live in the house for two years or more – long enough to build some equity? |
||
Do you have time to take care of a house, including responsibilities such as mowing the lawn and repairing the property each spring? |
||
Do you have time to devote to buying a home right now? Or are other commitments, such as night school, a priority? |
If you can answer "yes" to most of these questions, you are probably on your way to owning your own home.
Post a Comment