Am I Ready To Buy A Home Checklist.
Most people that purchase, or are looking to purchase
homes have a certain checklist that includes features that they need or want
for them and their families. Some of these "must have featuresĒ are a certain
amount of bedrooms, or you could want stainless-steel kitchen appliances, or
marbled countertops. However, most potential home buyers never include this
type of information within their budgets, and most times these minor
distractions leads to disasters. So you should create a checklist of expenses
that might be problems for you before you even start house shopping on the
market to combat future problems.
When trying to figure out how to exactly get what is on
your checklist, you need to learn to budget if you havenít already mastered or
learned it. You should always know exactly where your money is coming from, and
be able to pay off your monthly expenses without ever going into debt. By being
able to do this simple procedure, you will have a general idea ever month of
how much money is going into your savings to afford the additional luxuries
that are included on your checklist.
One of the key facts that most potential homeowners donít
know is that mortgage is simply an investment, and initially is debt itself. A great
way to help you financially is to pay-off all debts before you enter into a new
one. However, donít let this stop you from trying to acquire your dream home if
you do have debt. Just manage it like you would a car loan. Start saving money
every month where you could pay-off both bills concurrently every month.
When some potential home buyers start looking for homes
they may be excited about not having to deal with a landlord that was maybe
hard to get along with, or maybe didnít care. However, most people donít
realize the advantages of having a landlord are until they leave their renterís
situation. When anything is damaged on your property, you wonít have a landlord
there to fix and pay for it. That will be the responsibility of you for now on.
One important thing that people forget is that
emergencies do sometimes happen to homes. So itís best to have an emergency
fund just in case natural weather disasters occur, or if anything is damaged by
family members or your future guests.
When buying a house youíve entered a serious financial
commitment for at least twenty some years. So before you actually take on a
mortgage you should study if you have a stable income with your current job,
and already have a couple of years employment at the job as well.
One of the most important facts about home ownership is
to have a sizable down-payment. This is tremendously important because the
bigger your down payment is, the less youíll have to pay on the loan.
For more information about what you need to do before buying
a home, contact us at Century 21 Sexton & Donahue today.