03/20/2023
It might be time to ditch the landlord, buy a home, and make your own rules. These next 5-questions may help you know for sure:
1. ๐๐๐ง ๐ฒ๐จ๐ฎ ๐๐๐๐จ๐ซ๐ ๐ ๐๐จ๐ฐ๐ง ๐ฉ๐๐ฒ๐ฆ๐๐ง๐ญ? You donโt need piles of cash, but you do need a little (say 1-10% of the home price) to qualify for a competitive interest rate.
2. ๐๐จ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐ซ๐๐ ๐ฎ๐ฅ๐๐ซ ๐ข๐ง๐๐จ๐ฆ๐? Two years of employment history is preferred, but other factors, such as a high credit score and low debt-to-income ratio, can sub for less than two years.
3. ๐๐จ ๐ฒ๐จ๐ฎ ๐ค๐ง๐จ๐ฐ ๐ฐ๐ก๐๐ซ๐ ๐ฒ๐จ๐ฎ ๐ฐ๐๐ง๐ญ ๐ญ๐จ ๐ฅ๐ข๐ฏ๐? If youโre new to the area, you might want to wait a few months and get your bearings. Drive around the neighborhood, try out shops & restaurants in the area and get a feel for the community.
4. ๐๐จ ๐ฒ๐จ๐ฎ ๐ฉ๐ฅ๐๐ง ๐จ๐ง ๐ฌ๐ญ๐๐ฒ๐ข๐ง๐ ๐ฉ๐ฎ๐ญ ๐๐จ๐ซ ๐ ๐ฐ๐ก๐ข๐ฅ๐? No one knows the future, but sticking around for 2-5 years is ideal if you can make it work.
5. ๐๐ซ๐ ๐ฒ๐จ๐ฎ ๐๐จ๐ฆ๐๐จ๐ซ๐ญ๐๐๐ฅ๐ ๐ฐ๐ข๐ญ๐ก ๐๐ฎ๐ซ๐ซ๐๐ง๐ญ ๐ก๐จ๐ฆ๐ ๐ฉ๐ซ๐ข๐๐๐ฌ?
Sure, theyโre higher than youโd like, but when you run the numbers, you feel confident you can make the budget work.
Is 2023 the year you become a homeowner? DM me, and letโs chat about if homeownership is right for you!๐กโจ
