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How to Know When You Should Buy a House

Unloading a moving van

Do you enthusiastically pore over home listings on online platforms in your spare time? Is driving around looking for For Sale signs your idea of a perfect Saturday afternoon? If so, you may be ready to buy a house. Here are five tell-tale signs that you should consider if it’s time to buy a house.

  1. You are debt-free (or close to it). While many homeowners have student loans, car loans, or credit card debt, the best position to be when purchasing a home is debt-free or on a steady path to becoming debt-free. Not only will it make paying for a home and the maintenance that comes along with homeownership easier, it also makes it easier to get approved for a mortgage. Lenders consider your debt-to-income ratio (DTI). Having too much debt compared to your income is a red flag that you may not be able to make the required monthly payments.
  2. You have good credit. You are not required to have a credit score of 800+, but you should have a strong credit history of paying your bills on time. Each lender will evaluate your loan application individually and your credit score play a big part in that process. If you have lower credit, you may still be able to use programs such as an FHA loan to buy a home.
  3. You have saved a down payment. Not all mortgage products require that you make a down payment, but if you have been saving for awhile and have a good amount of money to put toward a home purchase, it’s probably time to start looking. If you don’t even have a basic emergency fund, start saving and wait a little bit longer to buy a house.
  4. You have a stable job and income. If you plan to make a career change soon, it may not be the right time to take on the additional financial burden of homeownership. Wait until you are in a stable job with reliable income to start shopping for a house.
  5. You know the costs. Before you take the step to buy a house, you should research all of the hidden costs of homeownership in your area. These can include property insurance costs, property taxes, utilities, maintenance, and flood insurance (if applicable).
  6. You need to move. If you have outgrown your apartment and are ready to move into a house, it might be time to consider homeownership. Just keep in mind that wanting to buy a large, luxurious home does not mean that you are ready for the financial obligation that comes with that purchase. Be realistic about your wants and needs.

If this sounds like you, you might be ready to buy a house. Talking to a Realtor or real estate agent can help you take the next steps by identifying the type of house you want, the expected prices in your area, and what you can do to further your path to homeownership.

Author Bio: Greg Sandler
Greg Sandler is a distinguished leader and strategist in the mortgage and real estate investment industry. With over two decades of experience, Greg has honed his expertise in guiding his clients to build wealth through real estate.

Greg Sandler has direct and first-hand experience as co-founder and CEO of USA Investment Group Management Inc., focusing on growing real estate holdings and diversified asset portfolios. Under Greg's guidance, the company has executed hundreds of traditional real estate acquisitions and currently manages a substantial portfolio of rental units.

Greg also has a track record of driving multi-million-dollar revenues and leading high-performing teams to success in mortgage loan originations, achieving the prestigious "Top 1% Originator" status in consecutive years. Currently steering the helm as the President at USALending.AI in Keller, TX, Greg has revitalized this division of a mortgage bank, significantly expanding the company's scale.

Prior to this, Greg's role as Senior Vice President at Fairway Independent Mortgage Corp in Rocklin, CA, was marked by his pivotal contribution in establishing the company's presence in northern California and northern Nevada. Under Greg's leadership, his team of nearly 110 dedicated mortgage professionals originated and funded approximately $800 million in residential mortgages annually.

Greg's professional journey is marked by his exceptional skills in negotiation, sales leadership, financial analysis, and P&L management. His ability to strategize, coupled with his in-depth knowledge of the mortgage and real estate sectors, makes him a visionary leader and a respected figure in the industry.

To book a call with Greg Sandler, please visit:

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