Buying a home will probably be one of the largest purchases you ever make. The only thing higher might be your bill for avocado toast, according to some news sources. All jokes aside, here are a few important signs you are ready to purchase your first home.
1. You Are Financially Stable
Financial stability refers to a few different things. It means you aren’t worried where your next paycheck is coming from and you have a good history of paying down debt. It also means you will have enough to pay for the mortgage, but also the property taxes, homeowner’s insurance and any other fees. Don’t forget to include some extra for home and appliance repairs since unlike a renter, owners are on the hook for everything.
2. You Are Ready to “Settle Down”
Settling down in this day and age doesn’t mean exactly what it used to. It simply means you can see yourself staying in one place for a little while. You might be ready to get married and have children, or you might not. Either way, settling down doesn’t mean “settling.” You can still have a blast and do all the things you love. The only difference is, once you buy a home, you will have a reliable home base to return to when you’re ready to relax.
3. You Want to Get Out of the Renter’s Game
Renting is great for some people, but others consider it to be just throwing away money. In some cases, you can find a property where you will pay roughly the same (or less) as you would in rent, but you will now be building equity in the property. Renting also comes with other hassles like landlords who never fix anything. Plus, you can’t change things about a rented home and make it truly your own in the same way you can with a house that you own.
So, do you think you are ready to buy? Contact Light Farms to get more information about buying in a suburban community complete with a farm stand, communal gathering place and even a local beekeeper! It’s a new take on what modern communities can be.