Are You Ready For Home Ownership Find Out By Answering These 4 Questions

Dated: November 24 2017

Views: 481

Are You Ready for Home Ownership? Find Out by Answering These 4 Questions

Are You Ready for Home Ownership? Find Out by Answering These 4 QuestionsHave you been dreaming about a larger, roomier or more luxurious living space? Or perhaps just want to experience the joy of owning your own home and building your net worth instead of renting? Let’s explore a few questions that can help to answer whether or not you’re ready for a new lifestyle as a homeowner.

Can You Realistically Afford To Buy A Home?

The first consideration to make is a financial one: can you afford it? Buying in a home is a significant financial investment. In most cases you’ll need to manage monthly mortgage payments for many years. The good news: owning a home is a more affordable than you might think. If you’re already a stable renter then you’re most of the way there.

Do You Have Your Down Payment Saved Up?

If you’re confident that monthly payments are no problem, then the next step is saving up enough to cover your down payment. This is a lump-sum investment that you make when you buy the home. Typically your down payment is around 20 percent of the home’s cost, but there are assistance programs which can reduce this further.

Do You Know What Type Of Home You Need?

Once you’ve cleared all of the financial hurdles, you will next need to decide exactly what kind of home you need. If you’re a single young professional, a condo or apartment might be the perfect starter home from which you can upgrade later. Or you might prefer something more rural which comes with more yard space, perfect for pets.

Are You Ready To Set Down Some Roots?

Finally, it’s worth taking some time to decide whether or not you’re ready to emotionally and physically invest in your local community. Is your career stable enough that you won’t be moving for at least a few years? What about that of your partner or spouse? If you don’t already, do you envision having children in the future? All of these are considerations that will help you choose the right neighborhood.

When you are ready, our professional mortgage team is here to help you finance the home of your dreams.

For More Info Visit: http://www.bondstreetmortgage.com

Latest Blog Posts

Whats In Store For Home Values In 2021

According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the

Read More

December 2020 Monthly Housing Market Trends

Number of Homes for Sale Hits a New Low. National inventory declined by 39.6% over the last year, and fell below 700,000 for the first time in our records. The inventory of newly listed properties

Read More

December 2020 Monthly Housing Market Trends Report

Number of Homes for Sale Hits a New LowNational inventory declined by 39.6% over the last year, and fell below 700,000 for the first time in our records. The inventory of newly listed properties

Read More

Jan 4 2021 13617 1

Some Highlights Experts project an optimistic year for the 2021 housing market. With mortgage rates forecasted to remain low, high buyer demand is expected to fuel more home sales and continue to

Read More