3 Signs You’re Ready for a New Home
Buying a house is a major financial and personal decision, and not one many people make lightly. The longer you’ve been in a home, the more likely you are to be attached to it, and the harder it can be to know when moving is the right choice. However, ensuring you have plenty of space in a house that suits your needs and long-term goals is as important as making a sound investment. Here are a few signs that it could be time for you to consider a change.
Is the Time Right for You to Buy a House?
1. The House Is Too Small or Large for Your Needs
Young couples and growing families may find their current space too restrictive. For example, if you’ve just welcomed a child into your home or decided to settle down with a partner, a smaller house or apartment may be too cramped. If it's too difficult for everyone to navigate the house comfortably, a larger floorplan is the best solution.
Conversely, most empty nesters find three- and four-bedroom homes too much to take care of. Unused bedrooms and hefty utility bills to cover so much square footage are not worth the investment.
2. You’ve Reached a Financial Milestone
Buying a house requires a substantial amount of money for the down payment, the cost of the move, the monthly mortgage and utility payments, and the incidental expenses that come with homeownership. These costs put homeownership out of reach for many younger people just starting their careers.
However, if you’ve recently secured your dream job or received a raise or promotion that earns a monthly income large enough to cover your expenses, then it might be time to house hunt. Also, if you have a good credit score and sufficient savings, then it would be a sound time to consider purchasing your own property.
3. You Want Control of Your Own Space
One of the chief advantages of renting for many people is relying on a landlord or property manager to pay for significant repairs and renovations. The drawback to this is that renters typically have little, if any, control over decoration, landscaping, utility upgrades, or home improvements. If you're ready to have the final say over the appearance and arrangement of your house and have the money to pay for the maintenance, then perhaps it's time to consider buying.
If you’re ready to buy a house of your own, get in touch with Dixon Team Keller Williams. Based in Ooltewah, TN, they offer an extensive portfolio of attractive properties throughout the greater Chattanooga area for prospective homeowners with a wide array of budgets and needs. Visit the website to learn more about them, or call (423) 702-2000 to schedule a consultation.
