Have you started a property search for homes for sale in Columbus, OH? Started jotting down a home feature wish list— including kitchen wants, bedroom needs, and the like? In case you didn’t know these are indications that you’re ready to buy a house in metro Columbus— among many others! The following signs are just a few that indicate if you’re ready to purchase and should contact us:Find Your Budget
Purchasing a home comes with responsibility— and a slew of other expenses— like insurance, property taxes, electric, gas, water/sewer, internet/cable and a little fund for repairs/contingencies (and don’t forget the cost of a move). Tapping into your money management skills is essential and if you don’t yet have a budget make one, and we can show you how! When all is said and done and you’re not living paycheck to paycheck, you may be ready to buy a home.The Down Payment
Along with determining your home budget you’ll need a down payment of anywhere from 3.5% on a FHA loan to 5% on a conventional loan, or more. Typically, a 15% or 20% downpayment will save you on private mortgage insurance or loans with higher interest rates. Consult with us so we can help guide you as to what’s best for you and your lending options/choices.
Manage (Or Improve) Your Credit
Another thing to have in order before you dive into Columbus, Ohio real estate is your credit. You don’t have to have perfect credit to become a homeowner, but having a decent score can help you obtain a better interest rate and lower monthly payment. In conjunction with your lender check your credit history and if you have any errors do your best to correct them before considering what is your best lending/loan options.
Build an Emergency Savings Fund
A good rule of thumb is to have three to six months living expenses saved in an account, just in case. If you have this under control, you’re one step closer to homeownership. Just in case something happens to your job, your health, or another unexpected circumstance comes up, you want to be sure you can still make the mortgage payment.Make the Commitment
Owning a home is a big commitment, so be sure you’re ready to take that on. With renting, if something breaks, you simply call the landlord. When you’re a homeowner and something breaks, that’s now your responsibility. There are extra expenses that come with buying a house in Columbus and additional tasks like yard upkeep and home maintenance that you’re also taking on. Make sure you have the time, energy, and desire to keep up your home to help determine if you’re ready to become a homeowner. Our Educated Buyer Notebook is chock full of great info and tips to help you with the largest financial transaction of your life, and it’s free for our Buyer-Clients!Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Faxwww.BuyersHome.com
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