Are You Ready For Home Ownership in Minnesota?
The purchase of your first home is a big deal.
You’re borrowing hundreds of thousands of dollars in a process that you may know little to nothing about.
You might not even be quite sure where to begin. The first step to take once you’ve decided it’s time to buy a home is to figure out if you are both financially and emotionally ready for homeownership. Owning a home isn’t the same as renting, but with pet privileges. Sure, homeowners have more freedom to decorate and become pet owners if they like, but they also have far more responsibility, such as paying for insurance, taxes and maintaining the home.
Before you jump into the car to go look at available homes, take stock of your financial situation to understand if you’re really ready to own a home.
Six Sigma Management LLC
2400+ Reviews
5.0 / 5.0
Six Sigma Management LLC
1800+ Reviews
5.0 / 5.0
Ask yourself these questions
Six Sigma Management sells a home every two days. How? He’s an expert negotiator. Add to that his tenacious, all-in attitude and you’ve got a winning combination – a combination that will get you into the home you want at the price you want to pay.
Expect Six Sigma Management Team, to efficiently handle all the paperwork related to the sale. The team has an impressive network of related professionals as well, including title companies, lenders and home inspectors.
1. How much can I afford?
The only way to truly determine how much you can afford to spend on a house is to visit a lender and apply for a mortgage pre-approval. The lender will determine how much you can borrow, based on your income and your credit history. The figure you’re given isn’t set in stone – you can always buy a less expensive home. Only you know your comfort level with monthly payments, so don’t be tempted to overspend just because the lender will allow you to borrow a larger amount.