Thinking of Buying A House?

So you are thinking of buying a home? That's great! Becoming a homeowner is one of the greatest feelings in the world because you actually OWN something and it's completely your own space.  When we moved into our first home back in 2015 it was so liberating despite the scary parts of having a mortgage to pay.  The freedom of becoming a homeowner very much outweighed any fears we had.  Still, buying a home can be overwhelming so I figured I would put together a few tips to make sure you're ready. 


Get Your Debts Under Control
If you have a lot of debts across a bunch of different credit cards, it's time to get that under control.  It's important to pay off as much debt as you can before you buy a house so your credit score improves and so that you have less payments each month for credit cards so that money can eventually go to your mortgage or other home expenses that come up, and trust me there are plenty of those.  The sooner your debts get paid down, the sooner you can move on to becoming a homeowner. 

Plan to Spend Money In the Beginning
If you think you can just buy a house and then be done with it, you are so wrong.  Whether it's a new build or an existing house, there will always be improvements that pop up and new things you need to buy like furniture and appliances.  It's always a wise choice to put some money aside specifically for that type of stuff during the first few years of home ownership. You can also begin looking for deals on used items in your area.  Stock piling what you need in advance can help when it comes time to buy a home because you won't impulsively go and spend tons of money on brand new things in a rush.

Know Your Options
Depending on your financial situation and many other factors, you will have different options than others.  A company like Associates Home Loan can help you figure out what type of loans you qualify for, what you can afford.  They can also help you to navigate the entire system of becoming a homeowner which can be very scary to do on your own no matter how experienced you are or how good you are with money.  The real estate world has so many terms and conditions that you really do need an expert in the field with you the entire time. 

Be Reasonable
Of course we would all love to have an enormous home with all the luxuries a person may ever need but that's not always realistic nor is it affordable so you need to be reasonable. Do you really need 6 bedrooms if you don't plan on having children?  And is the location going to work for you especially with the length of your commute?  Are you prepared for the maintenance of the inside and outside of your home, depending on it's age? These are all things you need to ask yourself before you start looking for a home.  When we decided to go house hunting, we knew that the house we chose would be our forever home so it would need to have decent space but not too big, and we really wanted a ranch since it would be more affordable to heat/cool and we thought ahead to when we're older and we may have trouble going up and down stairs.  


Just be smart and ask for help on this journey so that you can make only the best decisions for your future. Good luck! 

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