Let’s Talk About Why You Want to Own a Home

A persons desire to own a home is motivated by different things, the reason  Before we get to far let it be known I make a living by helping people into homes, if people don’t buy homes I do not make money.  That being said I have learned how important ethic are in my job.  Everyone has their own reasons for wanting to buy a home, and if you feel buying a home is a good decision for you and your family, I am more than happy to help.  It is important to know the reason my clients are buying a home.

I wanted to buy a home was because of the security.  10 a.m on a Saturday morning I received a phone call from the landlord saying she was selling the home in the next 30-60 days and we should make arrangements.  We have 4 children established in the school district we were in, they had friends and were doing well; now we have to rearrange their lives and hopefully keep some consistency in it.  I didn’t want to have this problem again, so I bought a home.

Know your motivations for buying

There are many good reasons to buy a home other than security, but you should know there are bad reasons as well.  It’s important to know your motivation for buying a home and figure out if it’s a good financial decision based on your goals.  Consulting a good financial adviser  at a young age is priceless and can get you on the right track early.

Good reasons to buy real estate

If you have thought about why you are buying a home and it makes sense  than you probably know what equity is and how it’s used to benefit you in the long term.  It’s the main reason people buy homes for financial reasons.  If you do not know what equity is you could benefit from my websites glossary on common (and some not so common) mortgage terms and their meanings.

Bad reasons to buy real estate

Buying a home should not be a hasty decision,  I always say home-ownership is 90% planning and 10% doing.   Just because you are pre-approved, doesn’t always mean you should by.  If you are considering home ownership and want to discuss the details than I would be more than happy to sit down and have a discussion to see if it suits your lifestyle.

I have seen people rush into a home purchase for many reasons, and the one thing that comes out of it every-time?  Regret.  After you close on your new home you should feel excited, the worst thing you can feel is buyers remorse.

The take away

If I were to do a pros and cons list on buying a home, I would probably have more pros , because in my position in life it made sense.  That being said it’s also important to know if you are ready, you shouldn’t wait forever.  We are at an incredible time  for buyer opportunity, homes are selling because they are priced well, rates are the lowest they’ve been in years, so if you think you’re ready; now is the time to get pre- approved.

 

If you want to do a little more research here is a first time home buyer test that may assist you.  Put in my email: jscott@execmort.com to assist.

What Can I Do Now?

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Justin Scott

NMLS 8758581