Signs you are ready to buy

With so much talk about how this is such a wonderful time to buy it can be easy to get caught up into thinking YOU should be buying… whether you are ready or not. Regardless of the housing market and financing conditions, it’s only a good time to buy if it’s the right time for you.

Here are some signs…

  1. You have been looking at homes for sale on the Internet and at open houses for so long that you almost feel like a Realtor.
  2. You are ready to to stop dreaming and start searching for a home to actually buy.
  3. You know that no home is perfect, but are ready to find the one that fits you the best and embrace it warts and all.
  4. Your credit and finances are in order.
  5. You are ready to get pre-approved for a mortgage (if you aren’t already) and you know where your down payment is coming from.
  6. You have a steady income and have budgeted not only for your mortgage, taxes and insurance… but also for utilities, maintenance and unexpected costs of homeownership.
  7. You know how long you plan to stay in the home you buy… and have a contingency plan if those plans change.
  8. You recognize that it is possible prices could go down a little more but are still at bargain prices from 10-15 years ago.
  9. You want to take advantage of the lowest mortgage interest rates in history and recognize that if prices were to drop 5% you would save $10,000 on a $200,000 purchase; but if interest rates increase from 4% to 6% you will pay nearly $78,000 more in interest over the life of a $200,000 loan.
  10. You understand that prices and mortgage interest rates are combining to create a ‘perfect storm’… likely making this the best time in our lifetimes to buy a home.

Signs it's time to make an offer... now.

 

Here are some signs you have found the right home for you…

  • It feels good as soon as you enter… as you go through it you find that instead of looking for reasons not to buy, you are looking for affirmation that it continues to feel good and this is the right home
  • You get the flutters… it’s like the feeling you get when you fall in love, wait a minute this IS falling in love, but with a home!
  • You forgive flaws… every home has flaws, but you find yourself making excuses for the flaws in this home, willing to overlook them because the rest of the home feels so good
  • You find yourself mentally moving in, arranging furniture, changing paint colors, making updates… this is an important sign that you feel like you could live here, and you are ready to fix it up to truly make it yours
  • You remember every detail… after seeing tons of houses most of them blur together, but this one stands out and is emblazoned in your memory
  • You feel happy… rather than worrying, you relax and breathe a sigh of relief that this feels like home and you would be proud to live here
  • You can’t imagine someone else moving into ‘your home’… ok, when you get here it’s time to make an offer, NOW!

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