Are you tired of throwing your money away on rent? Thinking of buying your first home?
Taking that first step toward home ownership is always the hardest one. But having a plan, a road map to
follow, will make that first step much easier.
"Action without planning is the cause of all failure. Action with planning is the cause of all success." - Brian Tracy
Step 1 -
Here are some questions you might first ask yourself:
Can I afford it? The worst thing you can do is to get into a situation where you become house poor. Living a lifestyle with an affordable house payment gives you the freedom to enjoy your life and not worry about making your payment each month. Using a financial worksheet will help you determine how much you can comfortably afford to spend on a home.
Do I have enough money saved? There are costs involved when purchasing a home and knowing what those costs are will help when budgeting for a home purchase. Costs may include; loan application fee, inspection fee, closing costs and down payment. It's best to talk to a mortgage professional who will go over costs with you and will work out a plan that best fits your needs.
Do I have a stable work life? Lenders like to see employment stability. A steady income and a solid career record in the same field, will give lenders reassurance that you have the ability to meet your monthly obligations.
Answering these questions and knowing where you are financially will put you on the right road that will lead to a successful home purchase.
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Maria Mastrolonardo is a Realtor Associate with RE/MAX of Naperville and has been assisting home-buyers and home-sellers since 1997. Maria can be reached at (630) 248-6077 or email: mmastrolonardo@remax.net
Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.
Maria Mastrolonardo is a full time Illinois Realtor specializing in Short Sales, has been helping home-buyers and home-sellers since 1997. Can help you with any questions or information regarding Short Sales for the Western Suburbs of Chicago which includes but not limited to; Naperville, Aurora, Downers Grove, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton and Woodridge.
To reach me call/text at (630) 248-6077 or mmastrolonardo@gmail.com
You can also find me here!
Maria: It's so appreciated when a realtor assists in the education of a first-time buyer .. or any buyer. Buying a first home can be a bit intimidating and finding professionals that can help in the navigation of it is crucial. Obviously, you understand that.
Thanks for the informative series regarding this important topic ...
Gene