Renting vs. BuyingPosted on 04/08/16
You may be thinking that renting is fine for now, but you want your own house that you can actually make your own. Well, you’re not alone. The National Association of Realtors® seems to think that “2015 is going to be the year of the first time home buyer.”
But before you pull the trigger buying a home for sale in Destin, ask yourself these questions to find our if your really ready.
1. How Healthy Are Your Savings? Estimate 5% for your down payment, plus a few thousand in closing costs and escrow fees, then double check your bank account to make sure you can afford the mortgage payments to come after the fact.
2. How Much Can You Afford Each Month? Speaking of mortgage payments, that’s not all that goes into affording a home. Don’t forget to factor in maintenance and upkeep among principal and taxes.
You’ll always want to ask yourself what your credit score is, whether or not you are ready to take the steps for approval and if you’re going to stick around the area for long. All of these things can come into play when buying Emerald Coast real estate.