The hottest pandemic purchase has been a house. Here's how to figure out whether you're financially ready to plunge into homeownership.🏡
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.@thisisinsider developed this quiz to help you determine if now is the right time for you to buy a home.
Plug in your ideal home size, location, annual income, credit score, and monthly debts — or how much you pay for recurring charges each month.
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Now consider the following:
- Will you stay in the home for more than a couple of years?
- Are you ready for the responsibilities of owning a home, like renovation and maintenance?
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Do you have enough to cover the down payment and closing costs? It's also best to have three to six months of expenses in an emergency fund after closing on a house.
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You’re also going to pay monthly payments towards your house. On top of your mortgage, factor in expenses like property taxes, homeowners insurance, and homeowners-association dues.
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The pandemic inspired a mass migration fueled by the rise of remote work unchaining employees from traditional offices. Many had the desire to live in larger spaces while spending less money.
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Bidding wars across the country may be waning, but homes are still surging in some places. If you're house hunting, expect a fight in North Carolina and other popular Sun Belt hot spots.
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The real-estate market is cutthroat. But we’re here to help.
From straightening out your finances to navigating the market and making the perfect offer on your dream home, we're here to guide you every step of the way on your road to home.
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