Purchase Real Estate this YearPosted Thursday, February 13, 2014
Is your family starting to feel cramped in your current house, or are you ready to quit renting and start investing? This may be the year to take a big jump and purchase real estate.
Whether you’re a property-purchasing pro or a first-time home buyer, take a look at the three points below to determine if you’re prepared to take the leap and invest big.
You have a sizable down payment. Knowing what you can actually afford is half the battle. A good estimate is to triple your household income, and that will roughly be what you’ll want to spend. Whatever you’ve saved as a down payment can go on top of that or, if you’re frugal, can just be used to reduce your monthly payments. The larger the down payment you have, the smaller your mortgage payments will be, and it could possibly get you a better interest rate.
You have a good real estate agent. It’s important to find a trustworthy, competent agent before you find your dream house. Take the time to thoroughly interview agents and get referrals. You’ll want to make sure you have someone who is knowledgeable about the real estate market to help you make one of the biggest decisions of your life.
You have a brag-worthy credit score. Strike while the iron is hot! If you’ve taken the time to build up and ensure a great credit score, use your good standing to take advantage of today’s low interest rates.
If you think that you are ready to buy, contact me today.