Thinking About Buying a Home? 3 Questions Every Buyer Should Answer First

Danielle AlexanderBlog Series Vol. 1, Danielle Alexander

New HomeAre you thinking about buying a home but not sure where to start?  There’s 3 questions you should ask yourself first to make sure you are ready to become a homeowner.  Here are the 3 questions:

1.Why am I buying a home in the first place?  For some people buying a home has nothing to do with finances. In my experience most buyers I have worked with decided to purchase a home for the following reasons:

 

  • Growing family and need more space.
  • The desire for better schools for their children.
  • The need to feel safe and live in a safe environment.
  • Location!  The desire to live within a specific community.

2.  Where are home values heading?

According to the latest Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months.

What does that mean to you?

Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait till next year. Your down payment will need to be higher as well to account for the higher home price.

3.  Where are mortgage interest rates heading?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.  The lower the interest rate the higher the price range of home you can afford.

Bottom Line, only you will know when the time is right for you to purchase a home.  Next step, I recommend we schedule a FREE home buyer consultation so we can spend more time to discuss your specific needs and wants and the best steps for you to take to become a homeowner.

To Buy To Sell Call Danielle!

Original Source: Keeping Current Matters

 

To learn more about Danielle, check out her bio.

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