Buying home is a big decision and before you enter into home ownership, take some time to do your due diligence. As you research what areas you want to live in, get pre-approved, and start the search for your dream home, here are 2 questions to ask yourself.
- Why are you purchasing a home? Harvard University conducted a study about why people buy a home. In the study, they found there are 4 major reasons why people enter into homeownership: 1) good place to raise children, 2) place to feel safe, 3) more space for them and their family, 4) control of the space (place to call their own). While you move forward in finding the right home for you, these questions will help you decide which home is best for you and meets all your needs.
- Where are home values headed? According to a recent survey conducted by a group of real estate experts, economists, and investment and market strategists, they predict the home market values will appreciate up to 18.1% in 2019. If you’re renting, rental prices will increase too. So, why not use that money towards a mortgage or your own instead of your landlord’s mortgage?
As you move forward towards home ownership, what it comes to, in the end, if finding a place where you and your family can make a home. Write a list of features that are important to you and you’re not willing to compromise on. In another column, write down what features you’d like but are willing to compromise on. This will help you as you search for your home.