First-time home buyers are people who have never bought a home before. They are often nervous about the process and what to expect, which can lead to them becoming overwhelmed or frustrated with how long it takes to buy their first house.
It’s not always easy, but there are some tell-tale signs that you’re ready for homeownership!
5 signs you are ready to buy a home:
- You’ve built up savings for your down payment and closing costs
- You have an established credit history with a good FICO score
- You’re earning a stable income and have steady employment
- You’re comfortable with the size of your current mortgage payments
- You know how much you can afford to spend on a home loan
- Buying a new home will increase your property value more than renting one would in the same area
- Your debt-to-income ratio is under 40%
- You’re ready to invest in your future by building equity in your own place.
With the right information and research, you should have a better idea of when it might be time to buy your own home. If any of these five signs apply to you, then now may be a good opportunity to take action and make plans for homeownership. Whether this is your first or fifth house purchase, our team will help guide you through every step from getting pre-approved with mortgage lenders all the way up until closing day. We can also provide resources about how to best maintain your new property after moving in! Reach out today if one of these indicators applies to you so we can start helping get started on purchasing that next big investment in yourself.
If you have questions about home buying or selling, be sure to contact one of our expert agents today.