Have you asked yourself why are you Buying a home? I know most Realtors will not ask you this, but it’s important that you know the answer.
Whether you are an investor, selling and buying another home or first time homebuyer, you should answer this question for yourself, and to yourself.
If you are an investor, is this property something you can profit from? Have you done your comparables property search in the area, if not contact me and I can help you. If you are going to buy a property to rent out, then you should be buying something that is not just going to give you a positive cash-flow, but also appreciate over time. The going rental price in the areas or for comparable properties, should equate to more than your expenses.
If you are selling and buying another home, then you should ask yourself why is it that you are selling your current home to buy another? Have you out-grown your current home, or do you no longer like your neighborhood? Would it be less expensive to do home improvements, than selling and buying another home?
First time Home Buyers, Can you afford your monthly payments? Are you sure it’s better to buy vs rent? Many first time homebuyers are anxious to purchase their first home, but unless your income and life has stabilized, buying a home might not be the best option for you.
Generally when you buy a home, the expenses of buying do not return a profit for the next 5 years, therefore unless the Real Estate market is really picking up fast, it might be better to rent a home, rather than buying.
But if you are ready to buy a home, let’s continue with our Home Buying Tips:
