When thinking about purchasing a home, most people only consider the financial side of the equation. Do I have enough money saved up for a downpayment? How much are closing costs? What about paying for inspections? Is my FICO score high enough to qualify me for a loan? Few people stop to consider the other aspects of homeownership. Put the money part aside. How do you know if you are really ready to become a homeowner?
How to Know If You Are Ready for Homeownership
Maintenance & Upkeep
When renting, you call the landlord or property maintenance company to take care of issues with your Lake Havasu home. But when you own the house, you must take care of these things yourself. For some people, the idea of taking over this responsibility may cause anxiety. But, if you feel up to tackling these tasks yourself, you might be ready for homeownership.
Putting Down Roots
You have been renting a home in Lake Havasu City for a little while now. You decided that you want to stay here for at least a few more years. Instead of putting all of your money into paying someone else’s mortgage, why not invest it in your own property? If you plan on staying here for the next three to five years, then consider buying a place. Financial experts say that it takes a few years to recoup the costs of buying your home in the first place as well as building enough equity to afford to sell it and buy a new one. That makes homeownership even more attractive.
Making a Home Your Own
When renting a Lake Havasu home, you need the owner’s permission to make any changes. Want to paint? Ask the owner. Feel like adding a garden? Ask the owner. Want to update the kitchen? Ask the owner. If you want to renovate, remodel or update any part of a property without asking permission first, you need to own that property. If you feel ready to shoulder that responsibility, then you are ready for homeownership.
Don’t get me wrong. Money plays a significant part in the home buying process. However, it is not the only factor. When you are ready to start looking for a Lake Havasu home of your own, call me at (928) 208-5154 or email me.
FEATURED LAKE HAVASU PROPERTY FOR SALE
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