Ah, the smell of the fresh air, the roosters early morning cock-a-doodle-doo - this is country living. With wide open spaces and a slower pace of life, what is there not to love about
Answer These 10 Questions To Learn If You Are Ready To Buy A Home
2. Do you anticipate any large expenses in the next two years, such as buying a car or having kids? No = 1 point
3. Do you expect to stay in your current job for the next two to three years? Yes = 1 point
4. Do you expect your job to stay in the same location for the next three to five years? Yes = 1 point (Is your employer thinking of relocating? How do you know until you ask?)
5. Do you know how much you can realistically afford to pay for housing? Yes = 1 point
6. Do you have a favorable credit record? Yes = 1 point
7. Do you have enough money for the down payment and closing costs? Yes = 1 point
8. Have you been pre-qualified for a mortgage so you know how much you can borrow? Yes = 1 point
9. Will your existing debt reduce your ability to qualify for a mortgage? No = 1 point
10. Is the amount you can borrow enough to enable you to buy a home you can truly enjoy? Yes = 1 point
(Don't settle for something you don’t love, for you could well live in your home a very long time.)
If you scored 8 points or more, you’re ready to buy a home.
The Rules of Money Have Changed, and this is perhaps more true in the area of home ownership than in any other aspect of personal finance. Therefore, be careful when seeking advice about buying a home, for asking the wrong people can cost you a ton of money. For example, do not ask your parents for an opinion if the last time they bought a home was decades ago. The reason: The rules of yesterday do not apply today, meaning their advice could be 30 years out of date! Also, do not ask someone whose last experience buying a home was during the boom years. Lending standards have tightened and many loan programs are no longer available.
Buying a home is difficult — perhaps even more so than ever before — and if you're not careful, your dream of owning a home can become a nightmare. Indeed, it is very easy to become house-rich and cash-poor.
If you have any additional Questions I would be more than happy to help you, on how to buy a home in Stockton, Ca.
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