Jan. 9, 2013
As 2012 ended, my husband and I had to decide if we would renew our lease for our current rental, find a new property to rent, or start our long-anticipated search to buy our own home. It wasn’t an easy decision, but after crunching the numbers we decided that we’d stay put in 2013.
Why aren’t we taking the plunge? Well, money talks, and our money and personal situation told us that we’d be a lot better off if we spent 2013 saving up more for our downpayment. After a year of living in our new city, we are more familiar with neighborhoods and the housing market in general. We already have a good idea of what kind of property we are looking for and where, and because we know that, it will help to have a little more cushion when we set out to become first-time homebuyers.
Even if you’ve just thought about potentially buying a home this year, it’s a good time to talk to a Texas REALTOR® about your homeownership goals. Do you know what a comfortable mortgage payment would be for your budget? Are you familiar with what the current market is like in your area? A Texas REALTOR® can help you determine the answers to these questions, as well as help you figure out what steps you need to take toward homeownership – whether it’s saving more money for a downpayment or finding homebuyer-assistance programs that you’re eligible for.
So while 2013 won’t be the year we buy, it will be the year we strengthen our financial position, take more time to get to know our community, and zero in our must-haves for a new home. Find out what 2013 will be like for you by talking to your Texas REALTOR®.