Decision To Buy A New Home
So got a decision to buy new house? Purchasing a new property is a big decision. No matter if you are a first time home buyer or purchasing a secondary vacation home. The market changes daily and you a seasoned real estate agent to guide you through the nuances of buying your new home.If you feel like you’re ready to buy a house, the first question you’re likely to ask yourself is, “how much can I afford?” And answering that question means taking a look at several factors Before you snap up that seemingly great buy on a home, learn how to analyze what “affordability” means. You’ll need to consider various factors ranging from the debt-to-income (DTI) ratio to mortgage rates.
Determining your debt-to-income ratio (DTI)—more specifically, the front-end DTI—is an important factor in getting a mortgage. How much downpayment you can afford will impact your ability to purchase a home. Beyond the property’s price tag, a host of other financial and lifestyle considerations should figure into your calculations as to whether you can afford to buy a house. You should also evaluate the local real estate market, the economic outlook, and the implications of how long you want to stay put. In your decision to buy new house we can help you.
Why do you want to buy a new home?
Perhaps you have outgrown your current home. You may be exhausted with the rental experience. Do you prefer a larger yard? Purchasing a property is an excellent decision. Investing in real estate is one of the least risky investments and one of the best ways to get a great return on your investment.