What To Consider Before Buying A Home

by Arthur Goldberry on November 25, 2011

Buying a home when you have bad credit takes a little more work. You should consider what you can really afford before looking for a home. Check out the market in the area you want to buy. Find out what price houses are going for and what the payments are per month. Remember that you may end up paying a little more per month than someone with a conventional bank loan, so keep that in mind as you figure out what you can afford.

You are going to have to work harder to find a home you can get without a loan which means you may have to shop around more. Prioritize your needs. You should make a list of what housing needs you have. Do you have to have three bedrooms or can you make do with less? Do you have to have a two-car garage or will a carport do? Do you have to have a single story home for health reasons? Do need to be close to a school?

Make another list for your housing wants. Wants might include things like a pool or hot tub, a walk-in closet, wooden floors, a deck, or a certain type of architecture. It would be nice if you can find a home with some of your wants, but to begin with, concentrate on finding a home that meets your needs. You can always add your wants after some time.

Finally, make a third list, which consists of the things that you don’t want in your home.

You may not be in a position to be too picky. Perhaps you can make do with a smaller home for now, while you establish your credit and get equity in the smaller home. Then you will be in a position to trade that home in for a bigger home.

Re-establishing your financial footing is not as difficult as it used to be, but it is impossible if you attempt to buy more house than makes sense. Be conservative!

Our litters of English bulldogs for sale are wrinkly with a massive nose rope and overdone. Add one to your family!

Leave a Comment

Previous post:

Next post: