It’s the American Dream to own a home, but is your bank account as ready as you are to make a move? We are stretching your dollar with a check-list to help you decide it it’s time to buy.
Before you even consider buying a home, make sure your financial house is in order.
Real estate experts recommend that you make sure your jobs is stable, stick to a budget and spend less than you earn.
“If you’re in that market, you should be very motivated to buy a home because rents are going to keep going up,” said a real estate expert.
Next, talk to a lender. They’ll tell you whether you’re able to take out a loan.
Then make sure you’re comfortable making a mortgage payment.
“For some people, it’s not worth eating in every single day, or driving a Civic instead of a Mercedes. If you’re going to be a homeowner, you may need to crunch some numbers and move a few things around,” said an expert.
Last but not least, save enough money for a down payment.
So if you’re ready to get off of the fence and into the housing market, go for it! Experts say it’s a wise investment for your finances and your future.