CONSIDERING THE PURCHASE

You have thought it over and are ready to buy a home. There are many reasons why you may be considering buying but certainly, the overwhelming reason why buying a home makes the most sense is it allows for wealth building in your future. Not only is this one of the only passive ways to build wealth but it also is a point of pride that allows you to enjoy this investment like no other. Considering these factors, there are very few reasons why buying a home doesn’t make financial sense.

Your decision-making process should be based on these facts:

• If you are paying rent, usually you can buy a home with a mortgage that is less than the rent you are paying.
• The fear of not having enough down payment is a typical fear, however, this should not prevent you from connecting with a professional to see if you can afford a home.
• Your Credit score does not have to be perfect when buying. If you think you have at least a 580 credit score than you could be eligible for a traditional mortgage.
• Many people wish to save for their “forever home” and never buy a smaller home. You should consider buying a “step up” home to build wealth in the meantime as there are thousands of dollars you could be leaving on the table in the years to come.
• Keep it simple stupid – There are professionals out there that will tell you what to do every step of the way!