Recently, I was having coffee with an old friend of mine and she asked me if I thought it was a good time for her to buy a home. She seemed unsure. I immediately dove in and asked her questions regarding her situation. She had just moved back home after being given an amazing job at a local thriving company, she had just bought a dog, had a great little amount of cash stocked away, and was sick of paying rent. It seemed like all the SIGNS that she should buy were there… it seemed like a no-brainer.. she was the perfect candidate. But it made me think that many people might not see the signs when they are right in front of them!
Here is my list of signs that you might be ready to buy – obviously these are not the only factors but they could be a good indication that you are ready to leave the world of landlords behind you.
- You just got a promotion or a raise. If you are making a little extra money and feel like you are stable at your job, it may be a really good time to buy. Also, a raise (and/or a promotion) show that your company values you and want you to stick around.. another sign that you are in a financially stable position.
- You feel like Nashville is home. You have roots. You see yourself living here for atleast the next five years. This could be a sign you are ready to buy.
- You want to buy a dog (or you just bought a dog). This may be a weird one, but I truly believe wanting to buy a dog is a sign you are ready to buy. Dogs require stability and make renting a lot harder. If you are thinking about buying a dog.. the stars are aligning.
- Paying rent makes you sick. This one seems obvious but it is not.. Are you feeling ill everytime you write the rent check and are paying your landlord’s mortgage? It may be time to start building equity for yourself
- You start wanting to re-model your apartment. Are you looking at walls wanting to knock them down or envisioning granite countertops in your kitchen? It is true.. you got the homeowner bug.
Final Thoughts: I know everyone thinks “Real Estate Agents think everyone should buy” but that is not true. I tell people all the time to wait until the time is right. The last thing I want is for any of my clients in a year to come back to me angry that they are underwater or struggling to pay their mortgage. Timing is everything when buying a home so hopefully this helps if you are questioning if the time is right for you. We offer consultations to really look and see if the time is right for you. So if you are questioning it contact us at 615-972-6220 or lisa@nashvilleonthemarket.com, and we can make a personalized plan to get you in the position to be able to buy! 🙂
Xoxo,
Lisa Stigliano
Nashville Realtor and Co-Owner of Nashville on the Market Real Estate
