How to Know When You’re Ready to Own a Home

by Robin Anderson Real Estate 10/06/2019

Owning a home is a big part of the American Dream. In fact, it’s such a part of American life that entire television networks devote hours of airtime to buying, selling, and renovating homes to riveted audiences across the country. So surely, owning a home is a good thing. Right? It all depends. 

Is owning a home right for you? Again, it all depends.

As with many things in life, timing can be everything. It may be right for you to own a home, but it may not be the right time for you to buy one. Before you rush out and engage a real estate agent, take a moment or two to determine these things:

  • What is your debt load? While you can carry debt and still buy a home, the kinds of debt and the amount you carry may impact the interest rate you get and the amount of loan for which you qualify.
  • Do you know your credit score? If your score is low, your getting approved for a good loan is harder. Sometimes things affect your score that you have no control over, like medical bills and even fraud or identity theft. Being aware of your score and any issues with it gives you a starting point toward improving it. If you don’t know your credit score, get your free credit report (you're entitled to one free credit report each year from all of the three major credit reporting agencies) to check for errors and problems.
  • What does your savings account look like? The down payment on a house is a huge chunk of change, and even if you qualify for an FHA or VA loan, the closing costs, insurance, taxes, and potential repairs run in the thousands.
  • Can you afford the house payment? Often, renters hear the statement “you’re just pouring money down a rabbit hole” and think that if they buy, they’ll pay the same but start building equity too. That is “sort of” true, but ownership comes with a lot of other costs in addition to principal and interest on your mortgage: homeowner’s insurance, homeowners’ association (HOA) dues, all utilities including water, sewer and trash, property taxes, and special municipal assessments. Can you afford all of these?
  • Are you handy? As a homeowner, you can’t just call the landlord when things go wrong. You are the landlord. So, if you can’t fix the toilet yourself, you have to hire a plumber. If the oven quits working or the dishwasher breaks, you have to repair or replace it yourself.
  • Does it make sense? Buying a forever home means you plan to live in it for a very long time, but if you're just in the early stages of your career, or have just started a family, buying a home may not make sense. Even if you're able to sell it quickly if you end up moving, you may not recoup the entire down payment, fees, closing costs, and money on repairs that you spent to purchase it.

If you need help assessing if you’re ready to buy, talk to a real estate professional or seek the advice of a mortgage specialist.

About the Author
Author

Robin Anderson Real Estate

“My Passion is people and relationships and I promise to provide my clients with exceptional service tailored to their individual needs.”
-Robin Anderson

Robin is a Georgia native who brings her passion for people and her love of homes to work for her clients. She and her husband, Andy, have been married for almost 25 years and have two children, Ellen and Drew. They currently live in Fairburn but she has lived in Cobb County, Douglas County, Carroll County, and Coweta County. She has been a part of many real estate endeavors including,building and designing several custom homes, remodeling homes, sub dividing land, managing rental properties, and buying and selling properties. She has spent the last two years with a New Home Builder in Cumming, and City of Decatur, and she is excited to work with both buyers and sellers in her own community!

She believes that meaningful relationships bring so much joy to this world and she knows that real Joy comes from faith in Jesus Christ. Although she is driven to provide outstanding service to her clients, she is astutely aware that people want to know you care about them before they care how much you know.  She counts her family, friends, and community as her biggest blessing.
 

Robin is highly motivated but she is sensitive to the fact that selling a home can be a very emotional experience for the homeowner. So she endeavors to produce results for the seller quickly and makes it a priority to keep them closely informed throughout the process. She is appreciative for the opportunity to help her clients navigate through the real estate process and she aspires to deliver quality customer service that is both positive and informative.
She also understands the importance of marketing and she and her team employ the latest technologies, research, and marketing strategies to ensure that their clients’ properties are positioned and marketed for success. With professionally designed advertising strategically placed in magazines, direct mail publications and flyers, and Internet sites, her client’s properties receive the highest and most effective exposure in the market place. 

Testimonials

"My fiancé and I couldn't have imagined using anyone but Robin as our real estate agent! She was so enthusiastic to find the perfect home for us and took the time to listen to all the things we wanted in our first home together. She's knowledgeable, kind, and works incredibly hard. We texted her late at night more than a few times, and she didn't hesitate to offer advice or encouragement or look at new options for us. Would recommend 10 out of 10!! "

" Robin is the consummate professional! She sold our previous home and helped us through the processes of purchasing and construction of our new home. She is knowledgeable, responsive and takes care of her clients. We would happily ask Robin to represent us again in the future and highly recommend her as an excellent real estate professional."