How Do You Know?
There are a few ways to determine whether or not you’re ready to buy a home. First and foremost you are in control so ask yourself, “Am I really ready to buy a home right now”? Be honest with yourself. How did you feel when you asked yourself that question? Did you feel nervous? Scared? Butterflies? Knees Buckling? Good. That just means you are about to step into a very emotional decision-making process and a little fear is ok. Use the fear to catapult you to doing what needs to be done not whimp out and say, “No, I can’t do that yet”. Unless of course there is a really good reason like heavy debt. If you have too much debt that takes away from what you could be using to pay that mortgage then no you’re not ready yet but you can make the decision to get ready. How? Well, this is easy but some people resist doing this one small activity.
1. Clear your schedule.
2. Turn off TV and cell.
3. Get a piece of paper and a pen or your kindle, phone, iPad.
4. Write down ALL of the bills you have (credit card debt, rent, cell phone(s), cable, electric, gas, food, renter’s insurance, daycare (if applicable), etc.
Make a list of every bill you pay and then consider if you are buying a $100,000 home your mortgage could be $1100 or more. That is just a guess considering you may be paying less for rent depending on where you live. Some people are paying as much as $1400 for rent so this would be a dream for you if you could pay less of a mortgage and have that extra $300-400 in your pocket. After going through this simple activity, how much is left over? Not much?
Then you may not be house ready and you have some decisions to make such as HOW can I eliminate some bills to make room for a mortgage? Am I ready to do that? Be honest with yourself. If not, then NO you’re not ready for a house. If so then maybe you will be ready to sit down and think of ways to cut down on your bills and see where that road takes you. It is doable but you have to put the work in.
I can help you get there but you have to take the first step.
Thoughts, comments and feedback is ALWAYS welcome.
To Your New Home