lukes moving company in hurst tx

5 Signs It’s Time to be a Homeowner

You may have always dreamed of being a homeowner but for one reason or another, it hasn’t been in the cards – until now. You may be feeling ready to tackle this newest phase of your life. But how do you know you’re really ready to become a homeowner? If you’re ready to take the leap from your parent’s home or an apartment to a new home you can call your own, check out these five signs that’s it time you made the move.

1.  You’ve Finally Got Enough for a Down Payment

Practicality first. You can’t buy a home without enough money to cover the down payment. Now that you’ve scraped together enough cash to kick start a mortgage (this could be as little as five percent or as high as 20 percent), you can feel confident that homeownership is in your future. Just don’t forget about the related expenses too, such as closing costs, real estate agent commission, inspection fees and title fees, says

2.  You’re Ready to Care for a Home

You’re tire of renting and tidying up someone else’s property. You’re ready to take on the responsibilities that come with owning a home, tackling anything from mowing the grass to dealing with plumbing issues. If you feel ready to take on these challenges, then you’re probably ready for homeownership. Take this time to build up your arsenal of reliable service professionals, such as pool technicians, electricians, plumbers, landscapers and more.

3.  You are Tired of Spending Money on Rent

Apartment living does come with its perks, but these days, it’s just as expensive to pay your rent as it is to pay a mortgage. If you’re ready to stop paying someone else’s mortgage and start building equity in your own home, this is a good time to start. In fact, equity is one of the biggest advantages to having your own home, allowing you to tap into a home equity line of credit (HELOC) down the line. This essentially allows you to borrow against your home if you need cash for renovations, additions, etc.

4.  Your Credit is Good

If you have a strong FICO credit score, you’ll likely have no problem getting a mortgage with a favorable rate. If you have poor credit, it’s not impossible to get a mortgage but you’ll pay a higher interest rate. Plus, with good credit scores (generally, over 600 is best), your borrowing power is higher. If your credit score could use some improvement, start now by asking for a higher line of credit, paying down all your credit cards on time, and boosting your debt-to-credit ratio.


5.  You’re Ready to Settle Down

Are you tired of living a nomadic lifestyle, living at your parents, crashing with friends, or cramming into a tiny apartment with your new wife? Are you ready to start a family, perhaps get a puppy or two? You will need a home for that, because families need room. This doesn’t mean you can’t settle down for the long term in an apartment – but at least with your own home, you’re not always walking on eggshells wondering when your landlord will raise the rent or terminate your lease unexpectedly.

A home allows you to set down roots, invest in a school system for your kids, get involved in the community, and gives you someplace to retreat to over the long haul.

Next Steps

If you identified with all the above, now it’s time to get serious. Here’s what you should do next.

  1. Come up with a budget – Take a long hard look at your finances, spell it all out, and come up with a realistic budget of what you can spend each month on a mortgage. But it’s not just the house you need to be able to afford. It’s the expenses that come with it, such as upkeep and maintenance, energy bills, groceries, etc.
  2. Find a reliable real estate agent – Partnering with a good agent will help you weed through the homes that won’t work for you, focusing on the ones that will.
  3. Find a reliable mover – You need a moving professional that has your best interests at heart and that will take good care of your belongings as you relocate to the next chapter in your life.

Contact Luke’s Moving

If a move is in your future, we would be happy to get you started with a free estimate when you contact us in Hurst TX at 817-482-9171.