Are You Ready to Buy a House?
Answering these eight questions will help you decide
The idea of owning your home
is an exciting one, but how do you know if you’re ready? Before you
take the plunge, answer the questions below.
What’s your financial situation?
Having a clear understanding of your finances is necessary when you’re
considering buying a home. Prior to speaking with a real estate agent,
you should make a budget to see how much you can reasonably afford to
pay. Don’t forget to factor in the cost of taxes, insurance premiums,
maintenance and other upkeep.
Can you afford even the initial costs?
Down payment amounts vary based on the type of loan you’re offered or if
you’re eligible for a first-time homebuyers’ program, but remember that
the more you put down, the lower your mortgage payments will be.
Other initial costs can be substantial: loan set-up fees, home
inspections, insurance, property taxes and other fees will cost you
about 2 to 4 percent of your home price.
Is your money organized?
Hopefully you’re the kind of person who balances your checkbook and
understands where your money goes, but if you take a more lackadaisical
approach to your finances, you’ll need to step up your game. Get
organized, check your credit report and keep building your savings.
Getting your affairs in order helps you improve your credit score,
qualifying you for better interest rates, and good financial records
will help you take full advantage of tax deductions.
What are your future expenses?
Think ahead to the next few years. Are you making any big life changes
that will hit your wallet hard? If you’re planning to have children or
start paying tuition soon, you should factor that cost into your
decision now. It can become difficult to replace an aging car or take an
expensive vacation once you’re paying a mortgage.
Do you have an emergency fund?
Before you devote all your savings into a down payment or upkeep for
your house, look at the bigger picture. You need to build a financial
cushion in case of financial setbacks like unexpected unemployment or
serious illness.
It’s not just money that should affect your decision to buy a home.
Are you flexible when it comes to getting what you want?
Your first home may not have all the bells and whistles you’re looking
for. Are you willing to defer on your wish list now in order to have a
home of your own? In a few years, you may be able to find a home that
better suits your needs, but in the meantime you could also consider
fixing up a less
expensive home, buying a home with friends or renting out part of your home for additional income.
Do you plan to move in three to five years?
There is a lot of effort, time and cost involved in buying a house – you
want to make your investment pay off for you. In addition to the price
of the house itself, you should also take into the set-up costs already
mentioned.
If you’re planning to move in a year for work or school, you may want to
wait until after that time. Otherwise, you might find yourself in a
tough spot if you’re forced to sell your home for less than its purchase
price in a slow market.
Do you enjoy home improvement?
If you’re already looking at homes, it’s hard not to imagine how adding a
fresh coat of paint to the walls or changing the light fixtures will
make a house truly yours. But if you’re used to calling the landlord for
anything that goes awry in your home, owning a house might be a jarring
wake-up call. When you own your house, any issue becomes your
responsibility, from replacing blown electrical fuses to installing a
new roof.
Now is the time to consider whether you enjoy home improvement projects.
Are you confident in your ability to patch drywall or install a ceiling
fan, or would you rather pay someone else to do it? If it’s the latter,
consider that even if you hire someone else to handle your home
improvement issues, you will still have to invest not only money but
your time by researching contractors and supervising their work.
Once you’ve answered these questions and taken the first steps toward
purchasing your new home, be sure to find out the going home values in
your area --just contact Remax Realty Center in Wisconsin!
Thank you for visiting our REMAX REALTY CENTER, Real Estate in Wisconsin website.
Please feel free to contact us for any of your residential or commerical real estate needs including an online market if you are a seller, or finding a home if you are a buyer.
Our real estate focus in the Waukesha County, Milwaukee County, Lake Country, Jefferson County, Dane County, Dodge County and Washington County areas. Several agents in the office also their IRES designation (International Real Estate Specialist) so they can assist you with all your real estate needs in Wisconsin, the USA or anywhere in the WORLD!
When you are seriously looking or just browsing at real estate in Wisconsin, RE/MAX REALTY CENTER, Real Estate in Wisconsin, is the BEST resource to help you with all your needs and questions, whether a first time home buyer, relocating to or from the beautiful LAKE COUNTRY area, looking to invest or explore foreclosure opportunities or just thinking ahead to the future.
Lisa Bear is the broker/owner of RE/MAX Realty Center, Real Estate in Wisconsin (262-893-5555) is an experienced real estate agent in Waukesha County and the entire Milwaukee Metro area. Lisa thinks "outside of the BOX" and encourages her agents to do so as well. If you want creative options and exceptional marketing and service - look no further!
The RE/MAX Realty Center Office, has experienced agents with expertise in luxury home marketing, lake property experts, foreclosure and short sale specialists, investment and property management brokers and commercial brokers.
Our agents areas of service include, but are not limited to:
The prospering communities of Waukesha County including Delafield, Waukesha, Oconomowoc, Pewaukee, Waukesha, Sussex, Wales, New Berlin, Dousman, North Prairie, Mukwonago, Chenequa, Menomonee Falls, Brookfield, Elm Grove, Okauchee, Eagle, Muskego and Merton.
Great municipalities in Milwaukee County including Milwaukee, South Milwaukee, Wauwatosa, Hales Corners, Greenfield, Glendale, Franklin, Bayside, Brown Deer, Cudahy, Fox Point, Greendale, Shorewood, Oak Creek, St. Francis, West Allis and Whitefish Bay.
The hometown favorites of Washington County, Jefferson County and Dodge County including Watertown, Hartford, West Bend, Germantown, Jackson, Richfield, Ashippun, Lake Mills, Jefferson, Johnson Creek, Slinger and Erin.
There is no place like "WISCONSIN LAKES"
If lake living is what you desire then Lake Country is the place to be! If you are thinking about buying waterfront property in Wisconsin,
a little time invested in learning about waterfront living will pay
back sizeable dividends in matching your expectations to realities. Lake Country Living on one of Waukesha Countys great lakes as a full timer or vacationer is a must and there are some great lakes to choose. Nagawicka Lake, Pine Lake, Oconomowoc Lake, Beaver Lake, Okauchee Lake, Pewaukee Lake, Moose Lake, North Lake, Lake Keesus, Lac La Belle, Upper Nashotah, Lower Nashotah, Upper Genesee, Lowe Genesee, Middle Genesee, Upper Nemahbin, Lower Nemahbin, Fowler Lake, Golden Lake, Pretty Lake, Silver Lake, Waterville Lake, and Crooked Lake. Great lakes of the surrounding area also include Lake Michigan, Rock Lake, Big Cedar Lake, Little Cedar Lake, Pike Lake and Lake Ripley.
Your best source for Lake Country Living is RE/MAX REALTY CENTER, Real Estate in Wisconsin
RE/MAX REALTY CENTER, Real Estate in Wisconsin, 262-567-2455 or 262-893-5555, offer online markets, listing package and FOR SALE BY OWNER (FSBO) options, MLS search access, buyer agency and marketing that will exceed your expectations, all with outstanding service!
Your home purchase or sale is likely your largest investment, be sure you have an good agent you can trust! Real Estate in Wisconsin is an excellent investment, prices are superb, selection is great and rates are outstanding!!!
Ask us about our preferred vendors -- from lenders to help you finance your new purchase to contractors to help maintain!
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