Ready to buy a Home?

Buying a home is a big decision, and an expensive one. Here are some ways to assess if you’re ready to make the leap:
• Are you settled in an area? If you think you’ll be moving around within the next 5 years, don’t buy. You lose money from the transaction costs of buying, then selling, the property.
• Do you have a good credit history? Secure your credit report at least a few months before you begin even looking for a new home, and double check the facts to make sure that no clerical errors are bringing down your score.
• Do you know how much you can afford? A quick way of calculating your ceiling price is to multiply your annual salary by 2.5. You can also avail of online calculators.
• Have you researched your loan options? Compute how much you’re willing to pay on a monthly basis, plus downpayment. Compare mortgage packages and lending institutions.