Shopping for your first house can be a complex and time-consuming process and it takes a lot of stamina and commitment on your part. The purchase process is complex with all the documents and requirements to comply. Learning the ropes of becoming a responsible homeowner is also stressful.
When you started planning to buy a house, you have probably researched about the houses that are on sale online and went to open houses and house trips to view them for real.
The search process may be long or short. However, there are a few ways to know if you are really ready to buy your first house.
Reasons to know if you are ready for your first house purchase
- You have the means to pay for the initial expenses. You may have not saved enough but you can find the means to produce the downpayment and other expenses. There a lot more expenses in buying a new house aside from the deposit. You also have to spend for closing costs as well as a few renovations and improvement.
- You have been preapproved by a mortgage professional. Getting a chance for a mortgage loan is a big sign that you are ready to purchase the house.
- The timing is just right. Too short or too long house shopping may not be good except when you needed to move at a certain time. When the right time comes, you just know and feel that it is the right time.
- The house can fulfill your “must-haves”. When you have found a house that seem to fulfill the criteria at a price that is affordable, then it must be the one.
- You have gone through the bumps but you have succeeded. It must be God’s will that you have passed the difficulties with flying colors.
- You think you have done enough research and the house is worth it. You have searched many houses. You know the process of real estate purchase. You like the house and you desire to get it and have the means to reach that objective.
- You have a good real estate agent who is pro-active, supportive, and most of all , knows how to work for your best interests.
- You understand the whole buying process and ready to work your way through it. You have made your offer and the seller makes a counter offer and you know how to deal with it.
- You have done a home inspection and has confirmed that the house is free from major problems so you feel excited about it. This can be a sign that you are meant to get that house.
- You and the seller have agreed on all the terms of the real estate sale. You understand what you are signing because you have a real estate agent, or a broker, or maybe a real estate attorney helping you out with it.
Your intuition may be silent but it can greatly help you to know when you are completely ready to own your first house.