When to get a Home There are hundreds of couples and single people trying to decide if it is a good time to buy a home. This can be a huge commitment though and to many it can seem risky with the unstable history of the real estate market. There are so many different things to think about when you are thinking about getting a home. Here are some ideas to help you.
Getting your Finances Set It is definitely true that getting a home can be a great investment (depending on the market) but you need to make sure that you are in control of your financial situation. This means that you need to have a plan and know where you want to be in the near future as well as the long-term. If you are just getting a home because that is what most of the people your age do then you might be making a mistake. Another way that you need to get your finances set is by making sure that your credit is good so that you can get a good home loan. If you are a veteran then you can get a low-interest va home loan and this can help you get your finances in check. If not, then it is a good idea to make sure that you are keeping up on all of your credit card payments and student or other loans.
Having an idea of location There is an old real estate expression that goes like this “location, location, location!�. You need to have an idea of where you want to get your home. There are places where investing in a home can be a good idea and others where it may be a bad one. Make sure that you do the math and work with the right real estate agent that knows what he is talking about. Make sure you have enough to make a down payment You may be asked to put down less than 20% for your down payment but you may want to rethink that and save up enough so you can feel like you are in control.
Be informed There are too many people out there looking at pictures of homes or just choose a home based on where it is and don’t even consider how the market will affect the price of the home. Another thing to be informed about is what kind of work the home will take. If you are designing and building your own home after getting your VA home loan, you will definitely have more say in what your home looks like.
Overall the time when you choose to buy a house should be based on informed planning and understanding the limits of your financial situation. Don’t get persuaded to get into something that will tie you down and keep you from living your dreams. Buying a home isn’t for everyone and some people love the freedom and flexibility renting gives them. Remember that this sort of commitment should be thought out in a detail oriented fashion. Photo Credit: hoboton , Ayla87