Buying a home is a major commitment that should not be taken lightly. There is so much to consider in addition to the amount of square footage, number of bedrooms, and the different new homes in Opelika AL communities you are interested in. The below are six indicators that you are ready to own a home.
- You are ready to plant roots – Homeownership is not for those not committed to settling down in the area. It is a good choice to buy rather than rent if you do not plan on moving within the next three to five years.
- You have evaluated your financial profile – A mortgage is necessary for buying a home unless you plan on buying it outright in cash. Knowing your credit score, debt-to-income ratio, and other financial responsibilities is important. A mortgage lender will take a look at your financials and approve you for a mortgage based off of this.
- You are financially ready for homeownership – Homeownership involves more than paying a monthly payment. You also have to take into account taxes, homeowner’s insurance, HOA fees, utility costs, as well as unforeseen responsibilities. Make sure you are ready for this financial commitment before deciding to purchase a home.
- You have saved for a down payment – Having at least 20 percent to put down on the total cost of the home is a good idea. Even if it you do not have 20 percent, it is a good idea to have something to put down when buying a home.
- You are prepared to take care of the home – From lawncare and upkeep to maintenance and repairs, owning a home means you are responsible of taking care of your home. You cannot just call the landlord or leasing management if you need something fixed. Owning a home is a good choice if you are ready to deal with this part of homeownership.
- You desire more freedom – There are limits to what you can do when renting. You may not be able to paint, affix things to walls, replace appliances or fixtures, or other things without permission from your landlord. Even if your landlord is more lenient, any updates or changes you make is for someone else’s home. On the other hand, homeownership affords you more control over what you can do to your home. And anything you do will benefit the overall value of your own home.
Now is the perfect time to own a home. Contact Rose Anne Erickson Realty at 706-257-1776 to inquire about our available new homes in Opelika AL for sale.Tags: homes for sale opelika al, new homes opelika al
This post was written by Rose Anne Erickson