Are you truly ready to buy a home? This comprehensive look at 7 specific questions to ask yourself shows you how to get ready to buy a house. The resource is loaded with facts, expert advice and helpful examples.
It takes more than just plunking down a 20% down payment to call yourself ready. You have to be financially, emotionally and mentally prepared—or risk becoming one of the one in four homeowners who feel buyer’s remorse.
To help you figure out if you—and your finances—are truly prepped for the world of homeownership, we spoke with real estate pros and one of our own CFP®s to fashion seven questions you should ask yourself first. The answers can mean the difference between starting the house hunt—or staying put until the time is right.
1. How Healthy Is My Credit Score?
2. Am I Making Good Progress on My Savings?
3. Have I Accounted for All of the Costs of a Home?
4. Is My Job Secure?
5. Am I Committed to the Location?
6. How Long Do I Plan to Live in the Home?
7. Am I Mentally Ready to Be a Homeowner?