Are you tired of the rent race and thinking about buying? Trying to decide whether to rent versus buy?
Hi, I’m Paula Quinn. Your local realtor with RE/MAX Central and today, I’m gonna give you five below-the-surface questions you can ask yourself to gauge if you’re truly ready to take that plunge into home ownership and making that rent versus buy decision. Buying a home is, yes, a huge financial decision, but it’s also a very emotional one. And while you can find online calculators and quizzes galore to tell you whether you’re financially set, the emotional side of buying a home is often overlooked. To gauge if you’re ready, heart, mind and means, to stop renting and buy, think about these below-the-surface questions.
Number one, are you ready to put down roots? Buying is a more long-term decision than renting, so you want to be sure you’re ready to plant for at least a couple of years before signing on the dotted line.
Number two, do you desire more privacy at home? If you’re exhausted by the noisy neighbors and no place to stretch your legs, it may be time to buy.
And number three, are you content in your current job? Lenders want to see job stability. So if you’re thinking of buying, evaluate your long-term employment plans.
Is your debt-to-income ratio in a healthy place? Your DTI ratio is an important factor when applying for a mortgage. Getting debt under control before purchasing is always a wise decision. Just think ahead.
And is there a want to buy a home? You should never buy a home because others are doing it or because you think it’s what you’re supposed to do next. You’ve gotta have your own want to and desire. The first step towards home ownership is saying with confidence, to yourself and others, “Let’s do this!”
If you’re there, I’d love to chat about what you’re thinking and give you some hard numbers in the neighborhoods you love. Give me a call or send me a message today. If buying your first home is one of your goals this upcoming year, join me on my 90 Day to Homeowner Challenge! It starts whenever you hop in, so click the link below to sign up, and I’ll send you your guide and other information. I’m Paula Quinn. Your local realtor with locally owned RE/MAX Central. And remember, I want you to love where you live.