Between rising rent costs and the desire to have a place you can call your own, one might believe that purchasing a home is a far-off dream. Think again! There is much to consider, from finances to logistics to paint colors, many factors of homeownership are different than when you are a tenant in someone else’s home, so you need to prepare now for a new home later. 

 

  • Do you love your rental? If so, talk with your landlord about purchasing the property! Once they become aware that you are interested and possibly moving, the thought of preparing and looking for a new tenant may encourage them to agree to a sale. All you can do is ask!  
     

  • Consider purchasing a townhouse or condominium when searching for properties. Many are affordable and convenient and would make the perfect first home. 
     

  • Think about your community options--where you live can affect how much you pay in fees, property taxes, or maintenance costs. 
     

  • If you have renters’ insurance--and you should--take note that a homeowner’s policy costs more, because it covers much more than just your belongings. Most mortgages will include homeowners’ insurance in the monthly payment. If your current agent can find a cheaper rate, go for it! 

 

Do you want the freedom to paint your living room bright green? Are you tired of having to keep your growing family quiet so as not to disturb the neighbor’s downstairs? If so, it may be time to think about buying a house. Connect with a Realtor® to guide you through the entire home-buying process.  

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

 

Photo credit: ramseysolutions.com