Assess Your Homeowner Readiness

Posted By
January 25, 2013

Homebuying 101

This is Step One.  Our Homebuying 101 course will help you assess your Homebuying readiness and give you the insight and resources necessary to ensure you make it through the process as smoothly as possible.  Learn about the current market and get resources to trusted real estate professionals.  By taking this class you are also eligible for personal coaching sessions with our Mentors at no additional cost.  You can also take The Road Home, our online version of the class.


Advantages vs. Disadvantages

It is popular belief that owning a home is a good thing, but do you know all of the costs and responsibilities involved?  Homeownership may be right for some people, but it is not right for everyone.  Consider how your life will change as a homeowner before you decide to make the leap.


Are You Ready?

You know you want to own a home, but are you financially ready?  Sure, first and last month’s rent with a security deposit isn’t cheap, but compare that to a down payment on a $200,000 home.  And once you’re in the home, guess who’s paying for the new hot water heater?  No more landlord to foot the bill.  Make sure you have the financial means to not only get into your home, but to stay there as well.


Wait, Are You Really Ready?

So you know that you need to save up for a down payment and your monthly mortgage payments may be higher than your current rent, but do you know what other costs there are just to get into your new home?  Can you afford to pay for the home inspection or the attorney fees?  Do you know what closing costs are or how much they may be?  Don’t forget about property taxes and homeowner’s insurance.  You will need to pay for all of these and more, while still maintaining reserves for that rainy day.


Know the Homebuying Steps

Print out a copy of our Homebuying Timeline.  You will find yourself asking, “What’s next?” as you make your way through the Homebuying process.  This helpful resource serves as a great tool as you try to navigate your way towards buying a home.