Are You Ready To Buy Your First Home?
Is now the time to buy your own place? Here are the ways to know when it makes sense financially to purchase your first home.
· You have a budget — and you know how to use it
· You have a sizable down payment
· You have a reliable source of income
· You have an emergency savings fund
· You have your debts under control
· Your credit report is in good shape
· You can make a long-term commitment
· You are prepared to become your own landlord
One of the keys to making the home-buying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process.