Buying a home has long been considered a fundamental aspect of achieving the American Dream, and it's no wonder. After all, what's better than having a place where you can feel safe and secure?
According to a recent home buyer report by Nerd Wallet, 84% of Americans say homeownership is a priority. The good news is that buying a house doesn't have to be as scary as you think—we're here to help!
Ready to start your home ownership journey? Before you do, there are a few things you need to get in order. First, you need to make sure your finances are in order. That's right—you can't buy a house without your "financial ducks" in a row!
The first thing to do is look at your current finances and see where you stand.
The first thing to do is look at your current finances and see where you stand. How can you increase your Credit Score? Are you saving enough for a down payment? How much will it cost to maintain the home (insurance, repairs, etc.)? How much should be set aside for taxes? How much will the mortgage payments be each month?
Once you've answered these questions and have a good idea of how much money you'll need on hand before beginning the search process, it's time to start thinking about where that money will come from. You may need to find ways to trim expenses or increase income so that they meet your new budget requirements.
We know that financial literacy is an important skill everyone should have. With so many different things to consider when making financial decisions, it can take time to know where to start. The most important thing is to get started!
It's okay if this is scary or overwhelming; we're here to help.
💃Join Jessica Perrone, Founder of Her Financial IQ, Tamika Barrett, AFC®, Coldwell Banker and Open Hand Ministries, as they discuss how to get your financial🤑 house in order so that you can afford🤗 the home of your dreams!
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Dear Friend: This content is for educational purposes only and is not investment, tax, or financial advice. Always do your own research. You are solely responsible for all investment, tax, and financial decisions that you make. Please read the full disclaimer here.