Making The Decision To Buy A Home

Buying a home is one of the biggest financial decisions you will make so start by evaluating your personal situation and asking some questions.

  • Are you ready to move?
  • Do you have a lease that is expiring?
  • Have you done research on the neighborhoods you want to live in?
  • How long do you plan to stay in your current area?
  • Are your comfortable in your job situation?
  • How much money do you have for a down payment?
  • What is your credit score good enough to get a loan?
  • Will it be a better financial decision to rent or buy? (Try this rent vs. buy calculator to find out)
  • Do you know how much home you can afford? (Try this home affordability calculator for a quick estimate)

Some of these questions you need to answer yourself, and other questions your mortgage lender and real estate agent can help you with. Knowing the answers is the first step toward deciding if now is the right time to buy a home.