The question you should ask yourself should you purchase a home in 2014? When I am presented with that question, my response is “It is ALWAYS a GOOD time to purchase real estate. If you have the means to purchase a home as primary residence or as an investment, why not move forward with the purchase?
You have to live to somewhere, make that somewhere yours. Here are 10 basic questions you can ask yourself before you call me to discuss further. I welcome the opportunity to assist with your decision.
- What is the 1st step I should do before you even start looking?
- How long do I plan on living in the home to make it financially worthwhile?
- When applying for a home loan, what do lenders care about the most?
- What is generally considered a comfortable monthly mortgage payment?
- What is the minimum credit score I need to get the best rate on a mortgage?
- Do I need to put 20% or more as a down payment or can it be less?
- In addition to my down payment, how much extra should I save to pay for closing costs and other fees?
- Should I use my emergency savings to purchase a home?
- Should I purchase a home at the highest amount I qualify for?
- How does owing a home benefit me?
All these questions and others should play a key roll in your decision to purchase a home, remember you are the one going to make the payment, no body else but you. So pick a budget that you know that you will be able to make each month.
This will probably be the biggest purchase in your life and your goal should do it right the first time. Purchasing a home in a big commintment that comes with a lot of emotion, stress and anxiety, but working with the right team such as your loan officer and real estate agent will ease some of that emotion.
Let’s get started on a conversation to see what your budget will allow you to purchase, even if you can purchase a home right away, we can discuss a plan on what it will take for you to own a home in the future. If you are a willing and able buyer looking to purchase, I am a willing and able mortgage professional looking to assist you with your plans on owning a home.
by Nathan Rufty