Now is the right time to buy a home.
In today’s economic climate, there’s never been a better time to buy a home! First, however, you must ask yourself if the time is right for YOU to buy:
- Get your finances in order. Do you have a steady income? You will need money for a down payment along with cash for closing and basic move-in expenses.
- Save for a rainy day. Once you buy, will you have enough money each month to spend on routine maintenance or major repair work if necessary? Be sure to keep a reserve for emergencies.
- Plan your resale. Do you plan to live in the home long enough to build some equity? Buying for the short-term is much riskier than taking a longer resale horizon. Depending on the area’s housing market, you’ll want to build equity through principal payments and appreciation to cover selling expenses. The odds will be in your favor if you’re buying for the long term.
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