Are you ready to buy or build a new home? If so, you probably read all the news stories and predictions that the market has a long way to go before it starts to recover and that home prices will continue to fall for months or years to come. If you waiting for the market to improve before you buy or build your Dream home, remember that, despite all their claims to the contrary, no one can predict precisely where the market is going. Trying to time your home purchase with the bottom of the market is futile. If you’re financially and emotionally ready to be a homeowner, it’s always a good time to buy. All the time you spend procrastinating on purchasing or building a home, you could be building equity, getting tax deductions and enjoying the many other benefits of homeownership!
Or maybe you’re just not sure if you are financially ready. Here’s a little quiz that might help.
Which one of the following do you NOT need to purchase a home:
- A decent credit record.
- A big down payment.
- Enough money to make monthly mortgage payments.
- Enough income to pay property taxes and homeowner’s insurance.
- The ability to maintain the property.
Check back in a few days for the answer.