This is a critical question that every first-time buyer should ask themselves before starting the home buying process as it can have a big impact on your lifestyle & finances!
Here are a few key questions that you can ask yourself to determine if you are ready:
How long have you been at your current job?
Do you have plans on switching careers in the near future? If so, this will impact your ability to get a mortgage approval
Are you carrying debt that could affect your ability to make a mortgage payment?
If so, you might need to pay this off before proceeding with your home ownership goals
What kind of home do you want?
Condo vs. House better for your lifestyle?
Where do you want to live?
Is this realistic for your budget?
How long do you want to commute to work?
Drive, walk, bike, public transit?
Want to have an in-depth look at your own financial situation?
Use our FREE Budget Planner to see exactly how much you have available to spend on a home after you have paid all your monthly expenses!
Let me know in the comments if you have any questions or concerns about whether or not you are ready to be a homeowner :)
Rylie C aka The OneWheel Realtor