Even with the benefits of homeownership, not everyone can or should own a home. These 10 questions can help you sort out whether owning a home makes sense for your personal situation.
1. Do you want to own a home?
2. Can you find a home to buy that you like?
3. Can you find a home to buy that's located where you want to live?
4. Can you find a home that you can afford to buy- and own?
5. Can you qualify for a mortgage or pay cash to purchase a home?
6. Does the cost of owning a home compared with renting make sense for you?
7. Is your job or other source of income secure?
8. Do you have a financial cushion in case you suffer a serious or prolonged loss of income?
9. Do you expect to remain in the same community for at least several years?
10. Do you expect to live in the same home for at least several years?
If you answered YES to these questions, you are a good candidate to own your own home!
Orange County Real Estate Sales, Investing and Property Management
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