Are You Ready to Buy a Home?

There is a moment in a life of every person, when he or she decides that they are ready to buy a home for their own. If you have such thoughts lately, stop for a moment and think well about your reasons more thoroughly. Owning a house is probably the biggest investment that a common person has in life, and there is no place in here for hasty decisions. In the process of getting a home you should also find a good agent, which can be a pretty hard task. Here are several points you should consider before you get into the real estate market.

Consider the Following Questions

  • Do you have children already? If you do, is it a whole package you’ve planned, or you are going to get some more?
  • Do you have a stable job and will you remain at the same position and the same wages in ten years? Fifteen? Twenty?
  • Are you married, or living with your beloved one? Is his or her job as stable as yours?
  • Can you foresee a need of moving somewhere because of your job needs and requirements? Or any other reasons?
  • Are you able to maintain a house yourself (meaning you know how to use a hammer and a saw etc.), or you will have to hire someone for help?
  • Is purchasing of the home an investment for you? What you think is the main advantage of owning a house?
  • Have you been living independently for the last five years? Are you aware of additional costs of home ownership to cope with?

Asked and Answered

In case you have answered the questions and you still haven’t changed your mind, staying sure you have to plunge into home ownership, then take a stand and make a move to your dream. If you are still contemplating – don’t take a risk. Home ownership has no room for carelessness.

Other Fees

If you think about the role of the questions mentioned above, here you have an explanation. As the modern economic climate does not give sureness in tomorrow’s costs and values, there is the need in purchasing such a serious property with considering future needs. Knowing how many bedrooms and bathrooms you will need, whether or not you need a backyard and other things will help you get the right house for you.

How Is Your Job?

The fact of being securely and stably employed will help you in getting the mortgage and ease the stress you get from the whole home ownership. If you rely upon your spouse’s or partner’s income, you should be sure in its stability as well. Try not to buy a home if you cannot pay mortgage with only one income – this way you will be much more secure in future.

Staying Put?

If you or your partner has a job that might require relocating in some time, you better stay a renter for this time. Homes are not appreciating the way they used to ten to twenty years ago, and if you happen to be forced to sell your house in couple years after the purchase, it may result in selling it at break-even price, or even at a loss. And this will mean that buying a new house would be a difficult task.

Home Repair

Even moving into a new house means you will have to either invest your efforts and time, or your money into some repairs. Make sure you foresee that and put away some money for this, as your lender will not be ok about you paying the mortgage two weeks later because you had to repaint walls or replace water heater.

Moreover, moving to your own house means you will have to get your own instruments, lawnmower, curtains, furniture and other things, which may be quite pricey. Nevertheless, don’t you borrow money to get all these things – remember that you already have a mortgage to pay, and you don’t need other debt liability.

Investing in Real Estate?

In terms of today’s economy investing in real estate is much more secure than investing in stock. Prices for the homes today are at the lowest level than they were in 2003, and on the other hand it means that those who invested in real estate eleven years ago have lost a great amount of money through these years. Thus, if you consider buying home as an investment, calculate all the risks. One thing we can be sure in is that houses are unlikely to lose value at the same amount they already did.

Surely, advantages of owning a house are numerous, but you should think well on your reasons before making a decision, as remorse will cost you much more than the house itself.


In case you’ve answered “yes” to the question about the independence, you’ve probably built the decent level of self-discipline that is necessary for taking a risk of home ownership, and you can easily jump into the real estate market now, but make sure you have a professional agent at your side to guide you through the whole process. So, if you are 100% sure you’re ready, then start your search. The best thing to start with would be making a research online. Visit this resource to see the prices and options in your area. Good luck!

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