STEP 1: Decide to Buy
You are ready to purchase a home. Now, you must identify what you want, why you want it and if you are financially ready to purchase. Below are a few questions to help you dig into this:
1. What are your future plans?
Do you anticipate starting a family? Perhaps you expect your family expand, or maybe you are scaling down and the kids are moving out to attend college. Whatever your future goals, it is wise to clearly articulate these goals so that you can identify the house that will meet your particular needs.
2. Do you have enough cash for a down payment?
Identify how much you can afford for a down payment. Remember, you will need to have Earnest Money (typically around 1% of the value of the home) accessible to submit