Are You Ready for a Mortgage?

Everyone is telling you that now is the time to buy before interest rates go up and your dream home is unaffordable. But buying a house just because it is a good idea doesn’t mean it is right for you. While you may think of the benefits of home ownership, you have to be ready for the challenges, too. Here are a few indications that you are ready to take that next step.

You have a down payment.

You have been saving money for your down payment. Even if you don’t have a lot saved, the act of putting money aside shows you are ready to become a home owner. You can find some special programs like FHA loans that don’t require a huge down payment.

You are dedicated to your budget.

You have a budget that you faithfully follow and are willing to do without some things if they don’t fit in your calculations. As a homeowner, you are going to have costs related to upkeep and maintenance of the home, so you need to know how to live within your means.

You know what you want in a home.

While you do need to be flexible about the home you choose, certain things are non-negotiable and you know what those are. Buying a home is much different from renting; you can’t just pick up and leave. You can be sure that you are going to be happy in the neighborhood and home you select for at least five to seven years.

You know the difference between wants and needs.

Buying a home that fits your family is important, but many people have the wrong idea about what they really need. Enough bedrooms, a good school district and a location close to work are items that are needs, essential to your happiness. However, finding a home with stainless steel appliances, walk-in closets or the perfect paint job are just wants that you can do without. It’s important that you understand the difference.

You can accept less than perfect.

No house is perfect and you must accept that before you can find the house you are meant to have. You must realize that no house is going to have everything you want. Instead, it will be your job to make the house you choose into your home.

If you understand these five concepts, then you are ready to buy a home. Give me a call and I can help you find that place that fits you and your family.