5 Indicators That You're Ready to Buy

So you’ve found the perfect Awendaw real estate but you’re not sure if you have what you need to purchase? Determining whether you're ready to buy a house can be a daunting task. Here are 5 indicators that will tell whether you're ready to take the plunge on that South Carolina Awendaw real estate.

1. You are familiar with the market. If you have a realistic view of how much a house will cost you, you're in good shape.

2. You have the money for a down payment. Freddie Mac says the percentage will be determined by the type of mortgage you select. Down payments usually range from 3 to 20 percent of the property value.

3. Know how much you can afford. Your monthly mortgage payment should be less than or equal to a percentage of your income, usually about a quarter of your gross monthly income.

4. Fully understand what additional expenses will come with owning a home. This includes homeowner insurance, property taxes, utility bills, and maintenance costs such as roofing, plumbing, heating and cooling.

5. Have good credit and make sure your credit report is accurate. You should get a report from each of the three credit reporting companies: Equifax, Experian, and Trans Union.

When you’re ready to make the plunge on that Awendaw real estate give me a call and I’ll be happy to help you with all of the purchase details.