Three Questions Every First Time Home Buyer Needs To Ask Themselves

First Time Home Buyer Questions Lafayette CA

Is it time for you to buy a home?

Buying a home is an exciting time. You finally get to put down roots and have complete control over your living space. But, buying a home is a big commitment. Before you decide to buy, make sure that you’re ready to take the plunge. Ask yourself these three questions to help determine if you’re ready.

What are my motives?

While a home is a great financial investment, there are likely other reasons you want to buy a home. Are you starting a family? Look for more space? Wanting to be in a better school district? If your life is changing, be sure that homeownership is right for your needs.

What does the housing market look like?

Before you decide to buy, be sure to look at the state of the housing market. Check projected home values and interest rate trends to give you a good indication. As of January 2016, reports on the housing market indicate that home values and interest rates are to increase. If you wait to buy, you could wind up paying more.

Can I afford it?

Buying a home is more than just making a monthly mortgage payment. Be sure that you’re able to afford all the financial responsibility that comes along with home ownership. Consider the initial down payment, monthly mortgage fees, homeowners association fees, homeowners insurance, furnishings, and general maintenance costs. Just be sure to look all the costs involved in buying a home.

If you’re ready to buy, be sure to contact professional Realtor Cary Amo in Lafayette, California for all your real estate needs.

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