Step 1: Is Homeownership Right for You?

Buying a home is the largest purchase most people make. It has tremendous benefits, but also carries lots of responsibilities. Ask yourself the following questions:

  • Can I afford to buy a home and at what price point?
  • Am I ready to budget for home associated expenses, like insurance, taxes and repairs?
  • Is it in line with my 5- to 10-year plan?
  • Do I wish to remain in the same area for the next few years?
  • Have I had a steady income for the past two years?

If you answered YES to the questions above, then homeownership may be for you! Remember, however, real estate transactions aren’t cheap, so buying, and then turning around and selling, usually is not a good idea.

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