Last night, I had some first-time homebuyers ask me if they were ready to purchase and what I thought of their situation. In response, I had a couple questions for them. These questions are the same ones you need to ask yourself if you’re in a similar situation so you can make a plan to get the home you want.
First, do you have an emergency fund?By this I mean a sum of at least $1,000 set aside for when certain things go wrong—maybe the car needs new brakes or the hot water heater needs to be replaced. These are things that you know will happen at some point in the future, but you just don’t know when. It’s not an unexpected expense; it’s an unscheduled expense.
“Let me help you figure out a plan to get the home you want.”
Second, what’s happening with your debt? Is it going up or down? If this sounds familiar, you might be listening to Dave Ramsey. If not, Dave Ramsey is a financial advisor who has sound financial sense, hates debt, and wants to make sure you’re constantly moving toward being on secure ground financially so you can do what you need to do for you and your family. I highly recommend you check out his site at DaveRamsey.com for more information.
Lastly, have you made a plan to figure out how to chunk that debt away? If you don’t have a plan, that’s fine. Let’s talk about making one. If you do have a plan, let’s talk about how close you are and how you might accelerate yourself to be ready. It’s not just about the house payment; it’s about what’s going out and what’s coming in.
I want you ready for homeownership so you can look back and say “You know what? This was awesome!” instead of “Oh my word, I’m hanging on by the skin of my teeth!”
If you’re interested in making your plan, give me a call so we can help you get ready to get that house. I look forward to speaking with you!
