It’s a tough question, and there are a lot of factors to consider. So many, in fact, that we’re going to break this topic up into 2 posts – be on the lookout for part 2 next week!

The Current Market

Interest rates are LOW right now. What does this mean for you? This could be the boost you need to get into a home, or could boost you into a larger home that you might otherwise not be able to afford.

It’s hard to predict what interest rates will do (will they drop or rise?), but if you’re buying now, you’re probably getting a pretty good one.

Location

How long are you planning on sticking to this area? Buying a home comes with a large number of expenses, and could end up costing you if you try to turn around and sell too soon.  If you won’t be in one place at least 3 to 5 years, you may consider waiting until you move somewhere more permanent.

Responsibility

Being a homeowner isn’t a walk in the park.  All those responsibilities someone else took care of while you rented will now be your responsibility (mowing the lawn, fixing things, cleaning out the gutters, changing out the air filters, etc.).  Are you ready to take on that type of responsibility?  Think about it before you commit to buying a home.

Don’t forget to check back for post 2 next week… We’re going to cover finances & your credit score.  In the meantime, we’re always here to answer your questions, so give us a call if you have one.

Stay tuned!
Karina, and your friends at The Loken Group