For many people, the thought of owning a home is outside of their realm of possibilities. Don’t let fear of the unknown keep you from owning a piece of the American Dream.
Check out the list of common fears below, but more importantly pay attention to the facts. You may find that owning a home isn’t as impossible as you may have thought.
1. Taxes
Fear: I cant afford to pay property taxes.
Fact: If you’re paying rent, you are just paying your landlord’s property taxes by way of your rent check.
2. Maintenance
Fear: I can’t take care of my own property.
Fact: For $60 a month you could have a beautiful yard including trimming, edging, mowing, and blowing.
3. Money
Fear: I can’t afford a mortgage payment every month.
Fact: If you’re already paying rent, you can find a home that matches your monthly budget. Bonus: Your principal and interest will not go up, like you rent could.
4. Security
Fear: I feel safer without the debt of a house on my shoulders.
Fact: If you want to feel secure, invest in your own home. Real estate has proven to increase in value over the last 100 years. The only person making money off your apartment is your landlord.
5. Down Payment
Fear: Who has 20% to put down on a house?
Fact: There are USDA and Grants that can help. And you do not have to pay them back. You don’t need as much savings as you may think.
6. Credit Score
Fear: I don’t have a good enough credit score.
Fact: With time, credit can be improved by 200 points. Did you know a score of only 520 can get you a loan?
7. Timeline
Fear: I don’t know when I’ll be ready?
Fact: Some think 60 days notice is all you need. It could take a few months if you need to work on your credit score to get a better rate. Usually it takes about 30 days to find a house and 45 days to close it. I recommend 8 months.
Today is a good time to call and talk about the process. There’s no cost for a consultation.