Is home buying right for you?
Many know that brokers will always tell you it’s a good time to buy and sell, but what if it isn’t always the right time for you to buy? In this video I break down a few essential questions you should be asking yourself before committing to buying a home.
1.Think about your financial situation. Are there going to be any significant financial changes in your life. Think about such life changing events like a job transfer, going to school or going back to school, buying a new car. If you say yes to any of these questions make sure you are considering how you will have enough income to purchase your new home.
2. Think about stability, if you are considering marriage, is your current location a good compromise with your future partner. Is your current job stable and are there future wage increases and job advancement? Or is your current job stable enough to support your new home?
Home ownership requires a long term commitment. Unlike renting, home ownership requires not only the financial commitment but also a commitment to maintenance issues that may arise with home ownership. You will be responsible for such things as replacing a hot water heater, plumbing issues, and overall maintenance issues that come with the normal wear and tear of owning a home.
You have to keep all of these questions in mind when you are looking into buying a new home. After really thinking about these questions you can then begin looking into buying a home.
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