Buying Your First Home: Are You Ready? MAY 2, 2014 6:12 PM / LEAVE A COMMENT It takes perseverance when it comes to buying your first home, as well as determination, and commitment. This is because you’ll need to get through the complex, time-consuming purchase process, but not only that, it’s also to learn the ways of being a responsible homeowner. Have you dreamed of buying your first home? Looked at various homes already and think your ready? But hold on one moment, are you really emotionally ready as well as financially to make your move? Let’s take a look at what mortgage and real estate pros know about who is all set to go and who needs further time to prep for owning a home. Here are 5 ways to know if you are ready to purchase your …show more content…
If you make the efforts to make that house your home, and then you sell it after 3 years, you’re not going to “break even.” If you feel that your employment situation is secure and you are prepared to remain in one place for a while, you just might be ready to buy! Get Pre-Approved: Only few people have the cash to buy their first home without a mortgage. Financing is needed for most people in order to afford home prices today. Realtors know that fact very well, which is why there are many who won’t spend much time with “potential buyers” who haven’t seriously talked with a mortgage professional. The process for loan approval is not any different for first-time home buyers than it is for the seasoned home buyers. Are You Flexible? Another important element in homebuyer readiness is timing. The ideal situation is to be ready to buy and then be able to wait, particularly if your housing market is a nest of various offers. It is said there is no place in the market for a hesitant buyer. But they can’t only be ready and eager to go, they need to go with realistic expectations, simply because there will be disappointment, especially because that is just how the market is right