Six Signs You’re Ready To Buy A House And Become A Homeowner!
Living in a house you’ve been calling ‘home’ for a while can sometimes be likened to falling in love – you can feel it deep inside, but you may still find it a bit hard to explain the specific reasons why you feel that way. Not to mention packing up your things and hiring a truck feels like a lot more effort too! And if you’ve been a tenant for quite some time, this is really tiring!
Though it’s tough to know when to call it ‘quits’ and move to a new place, you’re not giving up a good thing for no good reason, right? And above all these, why rent for so long when you can buy a new home?
When you’re going back and forth on whether to stay or go, it’s handy to know some key signs that show it’s time to move on. Here are six signs to buy a house and be a homeowner now:
- You Have A Down Payment and Contingency Funds Available. First thing first, you have the money to move and can manage the up-front cash costs. An emergency fund can be a key in keeping your head above water if the unexpected happens.
- You Can Manage the Mortgage, Taxes, and Utilities. Unlike renting, there are a few more expenses that you have to manage like the mortgage, utilities, taxes, and potential townhouse/condo fees. These can definitely add up. Therefore, a good stable income and buying in a realistic market must be foreseen.
- Your Debt Is Under Control and Your Credit Score Is Decent. If you’re going to need a mortgage to buy a home, banks and lenders want to know that they can trust you to pay them back, which is why they’ll take a close look at your credit score.
- You Can Afford a House in Your Desired Neighborhood. Your money is enough to satisfy your dream house as your existing neighborhood is in decline.
- You’re Unhappy with the Present Home. This means you are having issues in your home such as it is becoming a money pit. Maybe it has become too small or not big enough for your family. In short, your home is not making you happy anymore. Emotions give you signs to buy a house and be a homeowner on that point in time.
- You’ll Be Able to Sell When the Time Comes. Buying a home might be your way of getting into the real estate game, but the first place you purchase will more than likely not be your last. The majority of homeowners begins with a smaller house, townhouse, or condo and then work their way up to something larger. Selling your first home can be just as emotional as buying your first home, so be sure you’re prepared to sell when the time comes.
Though no “expert” can predict nor dictate for you exactly the signs to buy a house and be a homeowner, you, and only you, will know when the time is right to take that next leap in life by buying your dream home. However, we, at CPD Homes, are here to help tenants and homeowners out of any kind of distressed situation. Whether you are a struggling landlord, or just want a sound investment yielding significant ROI, we are here to help. Our slogan is Community. Pride. Development. So we are looking to help the areas we love by focusing our attention on creating the best outcome for our business, investments, partners and clients. Call us now and we are more than willing to assist and guide you in buying your dream home. You may reach us at 216-282-4332. You may also reach us at this link – www.cpdhome.com or like us on Face book.We’ll be glad to talk with you!