When it the perfect time to purchase a home? It really depends on you!

However, don’t buy a home because it’s a buyer’s market or just because of low mortgage rates. Buy a home because you want to be a homeowner. Buy a home because you’re settling down and need a place for live for at least five years. And only buy a home if you’re financially ready.

For most, your home will be the most expensive thing you will ever buy so it is a very big decision. You will need to make decisions about what type of mortgage is best for you and  finding the right home can be challenging depending on the local market and property availability.

To pay for your first home, you’ll need good credit, a steady job, and cash for the down payment and closing costs you will be required to pay.

Avoid creating a financial disaster by preparing your finances before going house hunting!

In a perfect world, you would commit to buying a home and get mortgage pre-approval before stepping foot into your first open house. Sometimes though it may be that you didn’t realize you wanted to own a home until you see your dream home. Either way, shopping for a home can be a long and taxing experience but also hugely rewarding.

Most of the time, homebuyers opt to use a Realtor to help them. A real estate agent’s job is to match you with a home that fits your budget and lifestyle needs, and help you navigate making an offer, negotiations, the home inspection and closing on your new place. And remember the buyer does not pay the realtor commission – that’s the sellers responsibility.