Home ownership is a great way to take control of your future. You build equity and you can change or improve your home to suit your changing lifestyle. Financial planning becomes a little easier, knowing the monthly outlay will remain relatively the same. You won't have to worry about the landlord raising the rent or deciding to make changes that you may not be comfortable with.

 

To get started, you'll need to qualify for a loan. It's not a painful process. Your lender simply wants to know that you will be able to repay the mortgage. Your credit history, gross income and ability to make a down payment are all taken into consideration. As a rule, your housing expense should not exceed 28 percent of your gross monthly income. That expense would include the principal, interest, taxes and homeowners insurance. If you want to calculate this for yourself, multiply your annual salary by .28 and divide by 12. Of course, you can get a more specific answer with a quick appointment and be better equipped to go home shopping.

 

While planning for your future, be sure to keep in mind that you can no longer call the landlord if the pipes begin to leak or the floor needs to be replaced. Budget for maintenance, so there won't be any unpleasant surprises.

Life can get complicated…so why not have the KTeam Advantage on your side to simplify buying and/or selling that valuable asset we call home? Our Team has an abundant supply of useful information to get you started. Make the wise decision to work with the professionals. Together we will work on making your real estate dreams come true.

 

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