My New Outside Blog

Buying A Home, Is It Right For You?

Buying A Home, Is It Right For You?

 Is Buying a home right for you? It will most likely be one of the most important decisions you'll make Buying A Home, Is It Right For You?and knowing if or when it's right for you can be key to your financial future. For some, buying a home can make financial sense in their twenties or as empty-nesters and anywhere in-between.

Buying a home or deciding if home ownership is right for you is not entirely about your ability to pay. With home ownership comes responsibility. And that means you, the homeowner are responsible for maintenance, repairs, taxes, insurance and lets not forget the mortgage repayment! If a pipe breaks you either have to make the repair yourself or call the no longer have the landlord as a source to are the landlord! Because you can afford to purchase a home does not mean that you should...with home ownership comes responsibility.

Consider these points to help with your decision to purchase a home.

Do you know what your credit health is? If you don't know what your credit score or financial status is a free report  or credit monitoring service is available through or

Do you have school debt? Personal loans? Credit card debt? If so you may need to work on your financial picture before you take on the added responsibility and debt of home ownership. 

How much have you saved for a down payment? While some programs like Rural Development or VA may allow you into a home with 100% financing, many properties or buyers don't fit into those categories and there will still be closing costs to pay depending on how an offer is structured. If you and the home you wish to purchase qualify for FHA financing and the home is priced at $100,000  your FHA required down payment will be $3,500 with some programs allowing you to put down less. However, there are still closing costs, taxes and insurance.  Once in your new home you may need to purchase furniture, or make repairs, paint or upgrades.

 With home ownership comes those monthly payments that you may not have had to pay when renting. Homeowners insurance,  sewer & water, garbage pick up, utility bills and possibly Association Dues. You will also have to budget savings for future repairs. A good idea is to have at least the amount of your homeowners insurance deductible saved.

Another important factor to consider is how long do you intend on living in the house? If  the possibility exists that you'll only be in the house for a year or two a home purchase may not be your best option. Generally you should plan to be in your home for five years or so to recoup closings costs and other costs associated with the purchase.

Ready to purchase a home?

I've given you several things to consider before you purchase a home, but if you can successfully address these points and feel comfortable that a home purchase is a viable option you may well be ready for home ownership and I can help with that or give you pointers if you're close.

If you are considering a home purchase in Huntsville or Madison, Alabama please call or email me if you have questions or want to move forward.

Original content published at....

Image courtesy of Master Isolated Images/

Nick T Pappas

Visit Your Huntsville Real Estate Resource  

Serving: Anslee FarmsBell Tower, Bishop Farms, Bradford Farms, BridgefieldCanebrakeChase Shadow, Cherokee Ridge, Clifts Cove, Edgewater, Emerald Forest Condo, Foxfield, Greystone Estates, Hampton Cove, Harvest, Highland Lakes, Jones Valley Estates, Kelly Plantation, Knox Creek, Lake ForestLedges of Huntsville Mountain, Mandolin, Maxwell Place, MidTowne on the Park, Newby Plantation, Olde Cobblestone, Overland Trace, Pebble Brook, Rainbow Landing, Rock Creek, Shadow Brook, Spencer Green, Stavemill Estates, The Bridges on the River, The Villas at Madison, Towne Lakes, Villas at Jones Valley, Walden Preserve, West Highlands, Whitehall, Village of Providence and more.

Comment balloon 31 commentsNick T Pappas • July 20 2015 06:16AM
Buying A Home, Is It Right For You?
Buying A Home, Is It Right For You? Is Buying a home right for you? It will most likely be one of the most important decisions you'll make and knowing if or when it's right for you can be key to your financial future. For some, buying a home can… more
Solar Energy - Battery Powered Home
Solar Energy Considering building a new home in Huntsville, Alabama or purchasing an existing home? The following might be something of interest to you if you want to cut utility bills and go green. A challenge faced producing solar energy is… more
The Reserve Huntsville Alabama Homes For Sale
THE RESERVE The Reserve in Huntsville Alabama is a popular community on the west side of Zierdt Rd. and just a couple of minutes from the Redstone Arsenal's Gate 7. Click on the photo below of the entrance to the Reserve for a daily updated list of… more
Lanier Lakes Madison Alabama Homes For Sale
Madison Alabama Lanier Lakes HomesThis Lanier Lakes Home is sold, but there are are more available in Lanier Lakes Lanier Lakes Click the photo for a daily updated list of Madison, Alabama and Lanier Lakes homes for sale… more
Why Use A Buyer Agent In Huntsville Alabama
Why Use A Buyer Agent In Huntsville Alabama? A perfect real life example of why you need your own buyer agent. When purchasing a home in Huntsville, Alabama particularly new construction you may ask why you should use a buyer agent and not the on… more
10 Most Competitive Housing Markets in Suburban Chicago
I don't re-blog a lot of posts, but this is one that I feel more buyers and sellers need to read. Lyn Sims who knows the Northwest Chicago suburbs well and particularly Schaumburg, Ill has written a post about real estate market statistics found… more
When Buying A Home 10 Things Not To Do
When Buying A Home 10 Things Not To Do If you're considering buying a home in Huntsville, Madison Alabama or the surrounding area try searching my real estate website. If you want to help ensure a successful closing then please read the list of… more
Lake Forest Huntsville Alabama Homes Under $200, 000
Lake Forest Homes For Sale Huntsville Alabama Under $200, 000 There are actually some 44 available homes and lots for sale in Lake Forest and all can be viewed by clicking here on Lake Forest Homes For Sale Original content published at… more
2909 Eastern Shore Drive, Huntsville, AL Coming Soon
2909 Eastern Shore Drive Huntsville, Alabama 35763 Coming Soon Patio Home For Sale Be the first to view this home in Eastern Shore before it goes on the market. The home owner will allow showing, however is getting the house ready for photos and… more
Mi Casa Mexican Restaurant Cinco de Mayo
Mi Casa Mexican Restaurant Cinco de Mayo Where : Mi Casa Mexican Restaurant 5850 Highway 53Harvest Alabama 35749Publix Shopping… more