Are You Ready for Home Ownership?
Ever dreamed of a larger, roomier or more luxurious living space?
Or perhaps just want to experience the joy of owning your own home and building your net worth instead of renting?
The experts at Clover House Realty will help you explore your options.
Here are just a few questions that can help you answer whether or not you're ready for the new lifestyle journey as a homeowner.
Find Out by Answering These 4 Questions
The very first question you're should ask yourself is:
Can you afford it?
Buying in a home is a huge decision and can be a sound financial investment.
Use this mortgage calculator to find out what your mortgage may be.
In most cases you'll need to manage monthly mortgage payments for many years. You will also be in charge of the upkeep of the property.
The good news is: owning a home can be more affordable than you might think. And sometimes, the mortgage is actually cheaper than rent!
If you're constantly paying your rent on time, then you're halfway there.
How much do you have saved for a Down Payment?
Once you've made the decision to explore home ownership, the next step is to make sure you have enough money for a down payment.
Down payment costs can range from 3.5% to 5% of the total purchase price of the property.
The rest of the purchase fees, such as closing costs and prepraids, can be paid by the First-Time Homebuyers program or other down payment assistance programs.
Use this mortgage calculator to find out what your mortgage may be.
Condo, Single Family or Multi Family home?
Once you've cleared all of the financial hurdles, you now have your Approval Letter.
Now you will need to decide exactly what kind of home you want.
If you're a young, single professional, a condo might be the perfect starter home from which you can upgrade later. But there may be Association fees that comes with buying a condo.
With a single family home, you can have a nice back yard, maybe a pool and fruit trees.
A multi-family home such as a duplex can be ideal for the consumer trying to get help paying the mortgage.
Either way, there's so many benefits to purchasing a home.
Are You Ready To Settle Down Some Roots?
Finally, it's worth taking some time to decide whether or not you're ready to emotionally and physically invest in your local community.
Is your career stable enough that you won't be moving for at least a few years? What about that of your partner or spouse?
If you don't already, do you envision having children in the future?
These are considerations that will help you choose the right neighborhood.
Brand new or resold home?
With interest rates so low right now, you can get a really good deal!
You can choose between a newly built home or buy a resale home. Your pick!
When you are ready to make the big leap into home ownership, the professionals at Clover House Realty are here to help you find the home of your dreams.
To learn more about buying in your area and to view homes that are perfect for first-time buyers, contact us today.
You can call or text us at : (754) 368-4921
Visit our website at: www.cloverhouserealty@gmail.com
Clover House Realty LLC | 1031 Ives Dairy Road, Ste 228, Miami, FL 33179
Office: (305) 400-0170 | Direct: (754) 368-4921 | Email: cloverhouserealty@gmail.com | Website: www.cloverhouserealty.com