Buying a home is widely regarded as a financial milestone. It’s one of the first things you hear people tell you when you reach adult land—save up, buy a house, get a mortgage. But how do you know you’re ready? Here are five signs gleaned from Real Estate AOL that mean you’re going to be moving into a new home very soon:
1. Your Job is Secure
Buying a home is a financial commitment, one that can last for decades. You need to make sure you’ve got a stable source of income so you won’t default on your payments. Remember that when you fail to keep up with the payments, you could eventually lose not just your new home but your initial investment in the property as well. So be sure you’ve got enough to keep the payments going.
2. You Won’t Be Moving
If you’re certain you won’t be moving anywhere else for the foreseeable future—a new state, country or continent—then buying property is a good idea. You’ll be able to put down roots, get to know your neighbors, and be part of the local community. So if your job requires you to move every few years or if you’re only in the area for as long as you need to finish your studies—even if that takes as long as five years—hold off on buying a home. Looking at rental properties would be a better option for you.
3. You’re Debt-Free
You have no outstanding debts—no sky-high student loans, no medical bills, no credit card loans—that you’re paying off. That means you’re in a perfect position to focus a large portion of your financial resources on a big purchase, which is, in this case, your new home.
4. You’ve Got Enough to Cover Additional Expenses
You should realize by now that home buying comes with a lot of other costs. You don’t just have to spend money for the mortgage, there are closing costs, moving costs, and home inspection fees to cough up money for. You’ll also have to deal with renovation and repair costs so make sure your budget has room enough for these.
5. You’re Ready to be a Homeowner
Owning a home comes with a ton of responsibility, from making repairs to buying home insurance. If you’re ready for that, and if all these signs check out, then congratulations! You’re ready to be a first-time homeowner! Want to look for new homes in Houston? Reach out to a local real estate company like Keller William Houston Realty Memorial for help.
Find the best new homes in Houston with our help. At Keller William Houston Realty Memorial, we offer you the kind of real estate assistance you need.
