Am I ready to buy a home?
We can help you decide.
The decision to purchase a home is a very personal one. You will need to consider several factors including your personal situation, financing costs, and the condition of the local real estate market.
The questions on this page can help you determine if you’re ready to buy a home. As an Accredited Buyer’s Representatives (ABR®) we can help you sort through these things and provide insight into the local market.
Get pre-approved for a mortgage
Nelson Brothers Insurance Agency
CALCULATORS
Refinance Break Even Calculator
If you purchase a home, how long do you expect to live there?
What can you afford to pay each month for housing-related expenses?
What are the total costs of home ownership?
Mortgage payments (based on various interest rate and term assumptions)
Property taxes
Homeowner’s insurance
Utilities
Maintenance costs
Any other special fees?
Do you expect these housing-related expenses to increase or decrease? (changes in interest rates may be a bigger factor than others)
What additional expenses are required to complete a purchase? (closing costs, moving expenses, etc.)
How much will your home ownership costs decline after adjusting for interest expense deductions and property taxes (if applicable)?
Are local market prices favorable to purchasing? What are your expectations on future prices?
If you are now a renter, what are your total housing expenses? (monthly rent, utilities, housing assessment, parking, etc.?)
How does renting vs. buying factor into your long-term investing goals?
What are your personal preferences regarding the type of housing you wish to live in? How does location factor into your housing preferences?
How do you expect your personal situation to change, in terms of future housing needs?
