4 Questions to Ask Yourself before Buying a Home in Bend

By in Buying a home with 1 Comment

Buying a home

By Jason Boone

You’ve been renting a Home in Bend for a long time and want to become a homeowner but are you really ready to make the switch from being a renter to a homeowner?

Here are 4 questions you must ask yourself so you can know if now is the right time for you to buy a home or not.

#1 – Is My Credit Score Right For Buying A Home?

To buy a home in Bend during 2015 you must have a credit score which is 700 or higher.

Your credit score is the most important part of buying a home since the higher the credit score means you will be able to qualify for a loan with a lower mortgage interest rate.

Since a mortgage loan will most likely be one of the top financial obligations you take on in your life why not do the work necessary to build your credit score before making the commitment to purchase a home?

#2 – Can I Save Money and STILL Buy A Home?

Yes, you want to buy a home in Bend but will you still be able to save money after the purchase has gone through?

Before making the commitment to buy a home you must do your budget and confirm that you will be able to balance a house payment with saving money, paying bills and meeting all of your financial commitments in the future.

#3 – Have I thought About All Of The Additional Costs With Owning A Home In Bend?

Owning a home is awesome but don’t forget about all of the additional costs which come with home ownership each year.

It’s important for you to be prepared to pay for unexpected expenses like buying a new water heater or new roof for your home when they occur by establishing a savings account which you will use to save at least 4% of your home’s value each year for future expenses.

#4 – Am I Committed To Being A Homeowner?

Last of all, but most important, ask yourself if you’re really ready to become a homeowner because once you buy in Bend you won’t want to sell your home for at least the next 5 to 10 years or else you risk losing money in the long run on your investment.

To learn more about buying a home in Bend or to view the latest homes for sale across town contact me today by calling (541) 383-1426 or click here to contact me online.

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1 Comment

  1. Mia Boyd says:

    Thanks for the information. I’ve been thinking about purchasing a home with my husband, I just want to make sure we’re ready for it. I’m going to follow your tip about making sure my credit score is good. I’ll also make sure I prepare for unpredictable expenses that come with buying a home. Do you have any other tips? http://www.londonmarket.ca/real-estate.php?townvillage=london