Does every “For Sale” sign in neighbors’ yards seem to catch your eye? Do you find yourself pinning pictures of your dream home on Pinterest? If so, it sounds like you’re contemplating whether it’s time to buy a new home. Purchasing a home is a huge commitment, so you shouldn’t rush this decision. How do you know when you’re ready? According to Colorado Springs real estate expert Marianne Farrell, you just have to look for these signs:
Your life is changing
Are you about to start a family? Your one bedroom studio loft apartment may not be big enough for you, your significant other and your new baby. Are you changing careers? If your new office is miles and miles away from your current home, it’s time to find a space that’s a little closer. Lifestyle changes like these are signs that you are ready to start looking for a new home.
You’re financially prepared for the change
Of course, money plays a huge role in determining whether you are ready to buy a new home. If you have successfully saved up enough money for a down payment, and have some to spare for unexpected expenses, you should be ready to buy a home. Always check your credit report before visiting lenders to determine if there is any way you can improve your score. For example, it may be helpful to spend time paying some of your debt off before trying to buy a home so you can make yourself look more attractive to lenders.
You’re ready to tackle repairs
One of the great things about living in a rental is you can call the landlord when you need something repaired. However, all of that will change when you buy your own home. You won’t have anyone to call—expect for the repairman—if your roof starts to leak or air conditioner stops working. If you don’t have the time or money to commit to repairing unexpected issues that may arise, you’re not ready to take on the responsibility of buying a new home. See the ten most common house problems
You want to settle down
Where do you see yourself in the next few years? Do you plan on sticking around or do you want to travel the world or move to a new city? If you’re not ready to plant your roots in a city, then you shouldn’t commit to buying a new home just yet. Wait until you know you are ready to settle down before you invest your time and money in searching for and buying a new home.
Have you spotted any of these signs that indicate you’re ready to buy a new home? If so, contact
Marianne Farrell at Berkshire Hathaway for help finding the home of your dreams. Marianne Farrell currently resides in the Colorado Springs area and has become the go-to real estate agent for both homebuyers and sellers. Call (303) 638-6115 today to get started on your search.