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Signs You’re Ready To Buy A Home (That don’t Reflect Your Bank Account)

Posted by OTeam on March 1, 2021

Are You Ready?

When you’re considering whether you’re ready to buy a home, finances obviously play a huge role in that decision. You need a certain amount of money to cover the down payment, closing costs, and need the financial stability to cover your home-related costs each month.

But money isn’t the only factor to consider when deciding whether you’re ready for homeownership. What are some non-financial signs that you’re ready to make the transition to owning your own home?

Let’s Take a Look

A recent article from realtor.com outlined key signs that you’re ready to be a homeowner that aren’t related to finances, including:

You know where you want to settle down. Generally, for a home to be an investment that increases in value, you need to hold on to the investment for a significant amount of time—at least three years. If you know you’re committed to settling down and staying put in your area for the foreseeable future—and have no plans on moving anytime soon—it’s a sign you’re ready to buy.
You want more control over your living space. When you’re renting, there’s only so much control you have; you can’t really do anything to or in your space—like make home upgrades or get a pet—without your landlord’s permission. If you’re craving more control over your home, buying can give you that control.
You understand the demands of home maintenance and upkeep—and are ready to tackle them. Maintaining a home is a lot of work. If you understand the work that goes into keeping your house in tip-top shape—and feel fully prepared to tackle that work—you’re ready to be a homeowner.

So, what does that mean for you?

If you feel confident about the above items then it may be time to get into home ownership. While finances are an important piece of making that jump, ensuring that you are ready for the responsibilities that come along with homeownership are just as important.

Here at Osgood Team Real Estate, we have local certified REALTORs who will guide you through the steps from start to finish, including a first time home buyer class. Get the full picture and let our team help you find that perfect home that gives you the location, control, and ownership you are ready for.