While there are many benefits to owning a home, there are times when purchasing a home requires a little but of waiting. If you are in any of the following situations, you might want to put off buying a home, at least for the moment:
1. You do not plan on staying in a home for at least three years. If you sell too soon, al of the costs attached to selling the home, buying the next one, and moving may mean you have to take a loss. If your jobs transfers you frequently, renting may be a better option.
2. You are saving money to start a business or to study for a graduate or undergraduate degree. In this case it’s best to put home buying on the back burner until you can free up more cash.
3. You regularly make significant and expensive purchases. Careful spending os the key to homeownership. Unless you are willing to make sacrifices and put off purchasing expensive toys, you may need to postpone buying a home unless you have an unlimited budget.
4. You want to buy an expensive property fairly soon and don’t have the funds. Do I really need to explain this one?
5. You truly do not have the down payment and cannot carry a mortgage payment. PLEASE WAIT! Keep saving and consulting with your Realtor and mortgage professional to put a plan in place. One day YOU WILL be handed the keys to your own place.
If you have any questions, don’t hesitate to call me at 281-948-8919 or visit my website at www.jeanethjimenez.com