8 signs you’re ready for homeownership, continued

Category: Housing

Sold Home For Sale Real Estate Sign in Front of Beautiful New House.  

Have you thought about buying a home for a while now, but can’t decide if the right time has finally come? It’s one of the most expensive purchases you’ll likely ever make, and while it can be an exciting time, it’s also important to make sure you’re ready for such a big step. Otherwise, you might be better off waiting, and just sticking to renting for the time being.

The following are some signs that you may be ready for homeownership:

You have realistic expectations

You know what your budget is and you’re sticking to it. But it’s also important that you have realistic expectations of how far that budget can go. Obviously you’d want to steer clear of buying a home that you hate, but it’s a good idea to compromise and be open to the idea of a starter home. If you’re willing to make certain sacrifices, you may be ready for homeownership. Otherwise, you might be better off renting for a little longer.

You’ve been timely with your bills

If there haven’t been any issues when it comes to paying your bills, it may be a sign that you’re ready to buy a home. Before taking the plunge, it’s important that you know—with confidence—you’ll be able to make your mortgage payment every month. Falling behind on mortgage payments can result in serious consequences, such as foreclosure.

You know the commitment that’s involved

It’s the right time to buy a home when you’re both financially and mentally prepared. Unlike renting, you’ll be responsible for keeping up with the maintenance inside and outside of your home—more so if you’re purchasing a home that is not part of an HOA. There is a lot of time and money that goes into being a homeowner. If this sounds like something you aren’t ready to take on, you may want to put off buying a home. But if it’s something you look forward to, it may be a sign that you’re ready.
 

Do you need extra money to purchase a home? With closing costs and a down payment to consider, having some extra cash can certainly come in handy, and may be the only thing currently standing in your way of becoming a homeowner. If you know that you’re ready for homeownership, but you just need some extra money to make it happen, Peachtree Financial Solutions may be able to help. If you’re receiving periodic payments from a structured settlement or annuity, we may be able to buy your future payments and provide you with a lump sum of cash.

Many of our customers choose to sell future payments because they want to buy a home. If you share similar goals, you may not need to sell all of your payments to get the cash you need. Depending on the value of your payments, how many payments you have remaining, and the amount of money you need, you may only have to sell a portion of your payment stream. If you do decide to only sell a portion of your structured settlement payments, you always have the option to sell more of your payments to Peachtree in the future.
 

Are you interested in learning more, or do you have additional questions about the process? We would like to hear from you. Contact Peachtree Financial Solutions today for more information and to receive your free, no-strings-attached quote. If you’re unsure of how many payments you’d like to sell, we will be happy to go over the different options available to you. We can even offer several different quotes for you based on a variety of payment purchasing options. Contact us today!

 

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Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.

Tags: budgets, Buying a Home, credit, Credit Score, monthly bills

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