Should You Buy a Home? Key Factors to Consider

by Randy Swihart 01/09/2020

Purchasing a home is a life-changing decision. As such, it is important to consider a variety of factors as you decide whether to pursue a residence, and these factors include:

1. Your Finances

Although you may want to buy a house as soon as possible, it is paramount to have your finances in order before you launch a home search. That way, you can avoid the risk of trying to spend beyond your means to purchase a residence.

Oftentimes, it helps to meet with banks and credit unions before you embark on a home search. These financial institutions can teach you about home financing and explain how mortgages work. Plus, they can help you get pre-approved for a mortgage so you can enter the housing market with a budget in hand.

2. Your Short- and Long-Term Goals

Consider your short- and long-term aspirations before you launch a home search – you will be happy you did. If you analyze your goals, you can see how buying a home helps or hinders your ability to accomplish these aspirations.

For example, if you want to work in a particular city, you may want to pursue homes in or near this city. This will eventually allow you to enjoy convenient access to a job in the city of your choice.

On the other hand, if you want to start a family soon, you may want to consider buying a house that offers immediate access to top schools and parks. You also may want to search for a home that offers a spacious backyard and other family-friendly amenities.

3. Your Family and Friends

If you want to reside close to family and friends, you can map out your house search accordingly. Houses are available in cities and towns nationwide. As a result, you should have no trouble finding a great residence near family and friends any time you decide to launch a home search.

For those who are ready to start a home search, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can quickly and effortlessly conduct an in-depth house search.

A real estate agent understands what it takes to search for houses in any city or town. First, he or she learns about a buyer's expectations and establishes a personalized homebuying strategy. A real estate agent next helps a buyer search for houses in his or her preferred cities and towns. This housing market professional then sets up home showings and keeps a buyer up to date about open house events. And if a buyer wants to submit an offer to purchase a house, a real estate agent will help him or her do just that.

The homebuying journey sometimes is complicated, but people who consider the aforementioned factors may be better equipped than ever before to determine if now is a good time to purchase a house. And if an individual decides to launch a home search, he or she can work with a real estate agent to achieve the best-possible results.

About the Author
Author

Randy Swihart

Let Florida REO Services help you reach your goals by listening to you:

Asset Managers - Prompt, efficient REO management, marketing & disposition.

Investors - Locate that next property, valuations, money, renovations and sales.

Home Buyers - Help from Searching, Offers, Inspections, Loan & closing.

Borrowers - Locate the ideal mortgage loan at great rates, terms and cost.

Our Team Offers years of Real Estate Sales, Mortgage Finance Experience.
Actively licensed in Real Estate Sales since 1982.  
Licensed Florida Real Estate Broker since 1984. (Agent from 1982-1984)
College degrees in Engineering and Business Management.   C.C.I.M. (Certified Commercial Investment Member in progress) Program  
 

Extensive training in Real Estate Syndications (REITS), Appraisals, and Commercial Investments.
Licensed Mortgage Broker / Banking (since 1994),  
Certified Residential Brokerage Member (C.R.B.) designation since 1990.  
Certified Distressed Property Expert (C.D.P.E.) designation since 2012.

REO ASSET MANGEMENT & SALES (REOs/Foreclosures) since 1984 for: HUD/FHA & Veterans Administration (VA) Owned Properties, Fannie Mae (FNMA), Freddie Mac (FHLMC), Numerous Bank and Private Equity REO Properties (CitiBank, Goldman Sachs, Bank of America, CHASE, Altisource-Ocwen, Nation Star),.
Experience with Asset Management Platforms: Equator.com, res.net, Pyramid Platform, Fannie Mae and more.
 

New Construction Marketing & Sales: Build to suit, Lot Acquisition. Past Project management of Florida Golf Course & Ocean Front Communities.
 

Property Management Services for Residential and Commercial Properties.