PAM DENT

Jump into Greener Pastures


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🏠How Do You Know When You’re Ready to Buy a Home in Charlottesville VA?

Getting ready to buy your first house?

 

Purchasing a house is one of the largest financial decisions you will make in your life and homeownership remains to be a goal for many. In fact, it is usually referred to as the great American Dream.

Having your own home means you will have a place to call your own where you’ll be creating equity and building towards the future. You will also have the freedom to decorate your home without having to get approval from someone else.

 

Purchasing a Charlottesville VA Home

 

Of course, there are also serious responsibilities. For one, you’ll have to pay for all the maintenance. You have to be sure that you are ready to take on the duties associated with home ownership.

So how do you know when you’re ready to buy a home in Charlottesville VA?

 

Your finances are in order

Before buying a home, you have to know both the upfront and the ongoing money you’ll need. Are you financially ready? How much credit card debt do you have?

How about your credit score? Your credit score will indicate how creditworthy you are. If your credit score is terrible, it may not be a good time to purchase a house. On the other hand, if you have excellent credit, it will be easier for you to get a mortgage at a low-interest rate.

 

You have saved enough down payment

Saving up a down payment may seem like a daunting task. However, it can be done if you go about it the right way.

If you have already saved enough money for a down payment, it is a good indication that you’re ready to buy a home. However, you also have to take into consideration the other expenses like closing costs, insurance, taxes, and repairs and furnishings to turn the house into a livable home.

If you can afford a down payment that allows room for breathing after the purchase, you are well on your way to home ownership.

 

You are ready to settle down

Before buying any home, make sure you’ll want to stay in that location for at least the next three to five years. Remember that your home is a long-term investment.

On average, home prices, appreciate around three percent per year. If you were to buy and have to sell in less than two years you’d likely lose money because there’s a chance that the increased value won’t even cover the closing costs you paid to buy the house.

 

You have the maturity to own a home

While homeownership is a major accomplishment, it also involves a great deal of responsibility. While you were renting, your landlord takes care of everything. Your duty was to pay your rent on time and to keep your unit clean. However, it is entirely different when you own a home.

Are you ready to do the maintenance work necessary to keep your home in good shape? Are you prepared to make all of your mortgage payments on time every time?

If you’re committed to taking on these responsibilities and more, then you’re ready to purchase your own home!

 

Are you in the market for a home here Charlottesville VA? Let me help you!

Call me, Pam Dent at (434) 960-0161. With my expertise and experience, I can help turn your real property dreams into a reality.

 

Filed Under: Blog, Charlottesville Homes for Sale, Charlottesville VA Homes, Homes in Charlottesville VA Tagged With: Charlottesville, Charlottesville home, Charlottesville homes, Charlottesville Homes for Sale, Pam Dent, Real Estate Properties for Sale in Charlottesville VA

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HORSE FARMS

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Contact Pam

Pam Dent
Phone: (434) 960-0161
Email: [email protected]
Gayle Harvey Real Estate Inc.
198 Spotnap Rd, #C-5,
Charlottesville, VA 22911


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