ARE YOU READY TO BUY?

Written By: Mallory Pazder, The Tinney Team

Buying a home can be a huge commitment in both the short term and long term. Maybe you have enough for a down payment, but is that enough to ensure you’re ready to buy? Here are 5 things to consider to make sure you’re on the right path.

1.     How organized are your finances? Buying a house is more than just having enough cash. You have to prove that you not only have the ability to save a certain percentage, but that you can also continue that momentum in making your payments moving forward. If you’re struggling to pay off your credit cards, now might not be the best time to make a real estate investment.

2.     What’s happening in the local real estate market? -Pennsylvania, Florida & New Jersey may differ slightly (The Tinney Team handles real estate in all three states), and it’s important to be able to differentiate-not every market follows the national levels of growth or affordability. Reach out to our team today so we can discuss what is going on int he market you are looking to buy in – we are your trusted real estate advisors!

3.     You’re ready to break up with your landlord. Breaking up can be hard to do, especially when you’re used to having someone fix any problems you have when you’re renting. When you’re a homeowner, you become the responsible party, but you also gain the tax benefits and equity! Home ownership is more than just decorating and entertaining guests-it can be time consuming and costly, so make sure that you’re ready to handle any issues that may arise in your dwelling.

4.     What is your end goal? We have clients that buy investment properties strictly for financial gain and we have others that are looking for their forever home. Make sure that you know what your end goal is when you’re looking for a place to buy. If it’s an investment property, you’ll have to things to consider rental comps or resale comps depending if it will be used as a rental or flip, property management expenses, utility costs, etc. If it is your forever home, school district or neighborhood may be top of the list in terms of importance.

5.     Who can help? This is by far the most important question to ask yourself. You don’t need to be a real estate expert. Make sure you are working with a great team who has experience and can help guide you through the process. That’s where we come in! We are here to help every step of the way; seeing our clients happy is what makes our jobs truly enjoyable. Contact us today to learn about the importance of building your real estate team-we’re looking forward to working with you!