To Buy or Not to Buy
You are ready to buy a home when you have held a stable job for at least two years, paid your rent on time and saved a down payment.
"To Buy or Not to Buy" also depends a lot on the house:
- Do payments on this house fit comfortably into your budget?
- Can you afford, while making mortgage payments, to pay your real estate taxes?
- Can you afford, while making mortgage payments, to pay your home owners insurance?
- Can you afford, while making mortgage payments, to pay for maintenance and repairs?
- Can you afford, while making mortgage payments, to enjoy your family and hobbies?
- Can you still afford an occasional vacation?
- Will this particular house go up in value substantially while you own it? Why?
- What could you do to it in the next 24 months to increase that value?
- What is happening in the neighborhood where the home is located?