So how did you know when you were ready to....

Buy a house??? I feel like we may be ready to take steps towards this soon...but I am so scared to get into something we can't handle too.

How did you know when you were really ready to make the home purchase?

I spoke to someone who seemed really knowledgeable in the steps to take to buy a home (he didn't have as many answers as I would have liked about first time home buyer assistance programs)..but until our credit is run (which I do not want to do a million times) I am not sure when we will know if we are really READY to do this or not.


And I know we want kids in the near future...so thinking about a home....anddddd day care is super overwhelming! How do average people do all of this?!!!!

Help!!!!!!!!!!!!

Re: So how did you know when you were ready to....

Is anyone ever really ready??? Lol we are actively looking, we have a mortgage banker and a real estate attorney, and my aunt is a realtor....but EVERYTIME we find a potential house DH freaks out and says no for one reason or another....

Re: So how did you know when you were ready to....

---

Posted by mtk1605

Is anyone ever really ready??? Lol we are actively looking, we have a mortgage banker and a real estate attorney, and my aunt is a realtor....but EVERYTIME we find a potential house DH freaks out and says no for one reason or another....

---

So did your mortgage banker pretty much pull your credit reports and do a finance analysis and tell you realistically how much house you can afford?

Re: So how did you know when you were ready to....

---

Posted by Jmrosa1

---

Posted by mtk1605

Is anyone ever really ready??? Lol we are actively looking, we have a mortgage banker and a real estate attorney, and my aunt is a realtor....but EVERYTIME we find a potential house DH freaks out and says no for one reason or another....

---

So did your mortgage banker pretty much pull your credit reports and do a finance analysis and tell you realistically how much house you can afford?

---

Yes. They say as a rule of thumb you add your salaries together and multiply by 3, that's around the mortgage you can get. We took a class also (first time homebuyers) offered by Community Development corporation out by us. It was free :) we def learned alot

Re: So how did you know when you were ready to....

Yea we are registered for one at Brentwood CC in May.

Re: So how did you know when you were ready to....

My husband held a really good first time home buyers seminar last Thursday, and I forgot to mention it here

We rented 2 years and we just knew it was the time, we got fed up of paying someone elses mortgage. We been homeowners for 2 months now and I could not be happier.

You can always talk to him and whether your ready or not, at least he can give you some sense of idea and knowledge.

Re: So how did you know when you were ready to....

---

Posted by Cataverri

My husband held a really good first time home buyers seminar last Thursday, and I forgot to mention it here

We rented 2 years and we just knew it was the time, we got fed up of paying someone elses mortgage. We been homeowners for 2 months now and I could not be happier.

You can always talk to him and whether your ready or not, at least he can give you some sense of idea and knowledge.

---

Sounds good!! Pass on his info again. I think u may have before. But jut incase.

Re: So how did you know when you were ready to....

If you can afford it, just do it!

Just make sure you can afford the monthly payments. really budget yourself to make sure you have enough.

we did FHA so that we only had to put 3.5% down and closing costs were about $15K in suffolk county (melville area)

see if you can save that much, plus a slush fund for improvements (or emergencies - e.g. your water heater breaks right away, etc.).

HTH

Re: So how did you know when you were ready to....

I always scared about this and Babies!!!!!!! LOL...

Re: So how did you know when you were ready to....

---

Posted by VCanizalez

I always scared about this and Babies!!!!!!! LOL...

---

I know it is scary!!

Re: So how did you know when you were ready to....

We're starting to think about it now. The only reason we are slightly hesitant is bc we are trying for kids soon, and I am going to be a stay at home mom. So we might try to stay in our condo for a couple more years.

Re: So how did you know when you were ready to....

---

Posted by Yankeeelove

We're starting to think about it now. The only reason we are slightly hesitant is bc we are trying for kids soon, and I am going to be a stay at home mom. So we might try to stay in our condo for a couple more years.

---

I wonder if the only way to do this is by buying a condo or co-op...but I don't know if hubby would fly for it. I don't think a payment on one of these would be much more than the rent we already pay...and we could be gaining equity while doing so to buy a home.

I just get nervous about selling it when it comes time. What if you can't get rid of it when you want to?

Re: So how did you know when you were ready to....

I didn't really feel ready. DH kind of took the reins and I asked him a MILLION times if he thought we could handle it.

It is very hard sometimes. For example our furnace just kaput and will be several thousand to replace. We need a new driveway. We are still renovating.

However, I love that we have a place that's OURS. Where we can build a family. we have so much more space than our old apartment and don't struggle with the mortgage since we didn't overextend ourselves.

Re: So how did you know when you were ready to....

After we paid rent for our first apartment and did the calculations, that owning one wouldn't be that much more that was really the deciding factor. We made sure however that even with the mortgage/maintenance/utilities, we still had a specific amount left over for cushioning. We didn't over extend ourselves in anyway and this has made the biggest difference. Looking to hopefully purchase a home in the next year - but I think finding what that optimal budget is and sticking to it is reallly key.

Re: So how did you know when you were ready to....

ugh! DH & I want to buy a house and we have what many would consider a reasonable amount for a down payment. He ck! we have an actual 10% down payment, however, we know we won't be able to afford a $5K+ mortgage payment a month so we want to be able to save at at least $100K to put down so that our mortgage payment will be brought down to about $2K a month and we'll have money left over for repairs/emergencies.