HOW TO KNOW YOU'RE READY TO BUY

Answer Yes or No to the following questions to help you decide if you are ready to buy.

1. Are you presently employed, and have been employed longer than two years?
2. Do you have a continuous, reliable source of income?
3. Do you have a bank account and how long have you had it for?
4. Do you file your income tax return on a yearly basis?
5. Do you pay your bills on time?
6. Is your total outstanding debt - including credit cards, lines of credit, car loans or personal loans - manageable?
7. Are all of your financial obligations accounted for in your total debt?
8. Do you have some money saved for the down payment and closing costs?
9. On a monthly basis, can you afford the mortgage as well as other expenses, including all your utility bills, maintenance services, repairs and any other financial obligations you many have?
10. Do you have time to take care of a house – including responsibilities like mowing the lawn and making small repairs?
11. Do you have time to devote to buying a home right now? Or, are other commitments taking priority?
12. Do you have money to cover moving expenses and security deposit for utility services?

If you answered “No” to any of these questions concentrate on strengthening those areas.

If you answered “Yes” to most questions, you are serious and ready to buy

TO RENT OR BUY

Deciding whether to rent or buy is a personal decision. You will need to decide what is best for you and your family. Following are a few things items to consider.

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