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How Ready Are You To Be a Home Buyer? St Petersburg Home Inspector.

By September 30, 2017 October 2nd, 2017 No Comments

How Ready Are You To Be a Home Buyer? St Petersburg Home Inspector.

Top 5 Traits of a Home Buyer

If you can buy a home for around the same amount you would pay in rent, and don’t mind staying put for a while to build equity, becoming a home buyer might be a good decision.

Home Buyer

A buyer who conforms to the market.

If you are the type of buyer who says, “Every home on the market is overpriced; I’m not paying that much,” then you are not conforming to the marketplace. Serious home buyers research the market and have realistic expectations.

A buyer who has savings — enough to put 2 to 3 months of mortgage payments in reserve.

Mortgage lenders want buyers to have a reserve. You should not take every nickel you can rub together and throw it into your home purchase. You will need a small emergency fund.

Video Credit: TIME

A buyer who has the resources and time to maintain a home.

Homes require upkeep. You’ll have a lawn to mow, windows to wash, furnace filters to replace, and you may need to tend to minor repairs from time to time.

A buyer who is employed with at least two years on the job.

If you don’t have two years of employment at the same company, then two years in the same field will suffice. Lenders expect to see stability in your employment history.

A buyer who plans to stay in the area.

If your state of residency is uncertain, it’s probably a good idea to skip buying a home. Some buyers who relocate are able to rent out their home, but handling a rental long distance is not always wise. You don’t want to be forced to sell when you don’t have enough equity to pay commissions and the other costs to sell.

If you need a St Petersburg Home Inspection or any of our other areas, please Call us for a Free Quote at 727-224-0837 and Remember we service the following areas

Hudson, West Chase, Tampa, St. Petersburg, Palm Harbor, Tarpon Springs,  Safety Harbor, Clearwater and surrounding areas.

These are the services we provide after you purchase your new Home.

Credit for the blog: Elizabeth Weintraub.

Mike Potts

Mike Potts

After graduating from Michigan State University with a degree in structural engineering, Mike moved to Tampa Bay and soon discovered a need in the community for trained, professional inspectors. Using his training in the field, Mike established Affordable Inspections, Inc. in 1992 and began offering his services to the public – inspecting commercial and residential properties. Taking on not just inspections, but full-on construction projects, Mike made a name for himself as an expert in structural engineering and worked on large commercial buildings in Tampa Bay and Clearwater.