By: Joshua Campbell
6 Signs Its Time To Stop Renting and Buy
Tags: knowledge broker, knowledge broker real estate, toronto real estate, newmarket real estate, new homes, new condos, home office, more space, newmarket homes for sale, renting vs buying, spring market, spring real estate market
There is nothing like buying your first home. The excitement, the independence and the feeling of owning something you can truly call yours. You have the freedom to design, modify, and upgrade whatever you want, whenever you want. Although renting does have its perks, there comes a time when the universe starts telling us it’s time to make the jump and buy. Here are the 6 all-powerful signs it is time to stop renting and make the jump towards buying.
#1 You Want Control Of Your Home
If you have big ideas for what you want in your space but are unable to make them happen because of your landlord, it may be time to buy. There are certain things you cannot change or add when renting. While in some cases your landlord may be willing to invest some money into a remodel, they might not consult with you on the changes. You will still be left with a space that isn’t truly yours and one that is under construction.
#2 You Want To Live In A Specific Area
With a family on the mind or a secure future, setting down roots is best to do when you own your property. You have more security over your future and are making the ultimate investment into it. Depending on your ideal area, there may not be rentals available. Buying might be your only option to secure your dream neighbourhood.
#3 Your Family Is Growing
Do you have a baby on the way? One of the biggest signs the universe can give you is when your family starts to grow. More members mean more space needed for you and them. Finding a bigger property, that’s in a great area for your child to grow up in will become your number one priority.
#4 You Find A Good Deal
If you've been thinking of buying, the first thing you need to do is align yourself with a real estate agent who knows how to help first-time home buyers. Your real estate agent will constantly be on the lookout for homes around your budget. Even though you can scroll through listings, an agent will be able to access off-market properties and will work with their connections to see if your dream house is coming on the market soon.
#5 Your Finances Are In Order
As soon as you have a down payment saved, don’t be afraid to spend it. You've accomplished your down payment goal and now it’s time to start looking. This is your sign that the time has come to put your hard saved money to work and invest in your future.
#6 You Are In A Stable Job
For a lot of people, finding a stable job can be difficult. It takes from months to years to find the right fit but when you’ve found it you know. Having a steady income is very important when it comes time to buying a house because mortgage companies want to know you can pay them back. If they can see you have consistently been at the same job for at least two years they will feel safer in approving you.
If you have a handle on your debt, are ready to lay roots down, and have budgeted for savings, perhaps it's time to flip from a renter to a homeowner. It might seem scary, especially when you are new to this world, but if you work with the right real estate agent it doesn’t have to be. At Knowledge Broker, we believe in a step-by-step process that allows our clients a clear look at their home buying journey. For more information on how we can help please contact us. We are ready when you are.
At Knowledge Broker, our goal is to create an open-source of information for all our clients. We want to ensure that, at the end of the day, they get exactly what they want and what they need. If you know someone who could use our help or services please put them in touch with us or send us their details using the contact information below.