I can still remember the anxiety I felt when I purchased my first home back in 1994. I still remember well it was a 3 bedroom 2.5 bath home that I paid $79,000 for. Many of you are thinking $79,000 that is super cheap. Well, back in 1994 that was a significant amount of money for a newly married man with 1 small child and another on the way. My wife and I had rented for several years but made up our mind it was first-time homebuyer to buy when I was transferred with my current employer. I can tell you unequivocally it was the best financial decision I have ever made.
There are many reasons I hear for not becoming a home buyer and I wanted to address a few of them today.
Reason 1: I can’t afford to buy a house.
The amount you are paying each month for rent might actually be more than a mortgage payment. Contact a mortgage real estate broker to help model a mortgage payment or use an online mortgage calculator to get a clearer picture of the monthly cost of a particular priced home.
• Did you know that there are different loan products out there that offer low down payment options?
• Did you know that there are down payment and closing cost assistance programs available that are based partly on income but also can be based on contribution to the community (First Responder, Home Town Hero, etc.)
• Did you know that if you are a veteran there are loans available to you with Zero down payment?
Reason 2: I am not sure where I want to live.
The average person moves every 5-7 years in America so most likely you are not buying your forever home. Historically, Housing has appreciated year over year so only owning a home a few years can lead to positive wealth accumulation.
Reason 3: I am not handy and can’t handle upkeep and repairs.
I have 2 words for you – HOME WARRANTY. First-time homebuyer warranty is a great low-cost option that will allow a home owner to call a number and then have a service provider come out to handle most repairs .A First-Time Homebuyer In Corpus Christi, TX
Let Coastal Living Realty Group Help You!
If the thought of buying a home stresses you out, I encourage you to speak to a real estate professional or take a first time home buyers class just to learn more. Both are no cost options to learn more about how home ownership might truly be within your reach. You will be glad you did!
