Buying a Home: Are You Ready?

Oh Hello, you look like someone who might buy a home. Maybe mom has barged in without knocking for the last time, your landlord is 6 and a half months late on repairing that sink that’s still spewing brown water, or the walls of your starter home are closing in. Regardless, that’s it, you’ve HAD it, you’re ready to do some home shopping!

Before you pack your bags and recite that exit speech you’ve practiced hundreds of times in front of the mirror, get ready to ask yourself some big kid questions. First and foremost: Are you actually ready to buy? Buying a home is a big decision that takes some preparing and introspection. Here are some questions you should ask yourself. Take notes!

Should you rent or buy?

Renting can often seem like the lesser of two evils, it’s cheaper, you don’t need to worry about closing costs, and down payments aren’t an issue. No brainer right? BUT, Buying comes with its own little perks as well. Buying a home means paying your own rent and your own mortgage. Renting may be cheaper but that money you’re paying is gonna go straight from your pockets to your landlord’s mortgage.

Next, ask yourself “What can I afford?”

Take stock of your current situation and understand what you’re able to really invest in. DON’T buy a house thinking you’ll be able to afford the payments once you land your dream job in a couple years. You might be thinking, “no chance I don’t score that job!” and use that momentum and emotion-based thinking to buy your new home. Confidence is sexy, sure, but financial instability and a foreclosed home are major turn-offs. Life is unpredictable, go for the home you can afford NOW not later. In a few years when your acting career takes off THEN you can think about an upgrade.

Question number three, if you’re not buying by yourself then ask: are my partner and I on the same page?

Unless you want some friction in your new home, you need to make sure you’re aligned. I mean, where do you want to live, what kind of house do you want, what’s your financial situation, why does he always leave his gym clothes hanging on the exercise bike, what’s she actually doing in the bathroom for that long, why is he still on his parents wireless family plan, why doesn’t she close her eyes when she kisses me. You know, stuff like that. And finally, if you’re buying by yourself, are you on the same page with yourself? What do you want, do you know what you want, are you sure that’s what you want? Internal confusion can often be difficult, so it’s best to get aligned before you move on.

Get your answers to these questions straightened out and you’re ready to take the next step towards buying a home!

Homearly is a network of Real Estate Specialists and partners united by the simple purpose of providing great service to everyone who asks for it. We are here for you, give us a call anytime at  (714) 823-8558!

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