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To Buy or Not to Buy: Why You Should Buy a Home Now and Not Wait

Buying a home is the quintessential American dream. But are you ready? To buy or not to buy, that is the question! Here’s why you should buy a home.

Did you know that in 2018, 5.34 million existing homes were sold in the United States? And did you know that 667,000 newly constructed homes were built in the same year?

It seems like there are a lot of opportunities to buy a home and there are also many options that help first-time buyers, so if you’re ready, now is a great time to buy a home.

However, how do you know whether to buy or not to buy a house? Keep reading to find out what the reasons to buy a house are and to learn more about if you’re ready to buy a home.


When deciding whether you should buy a house there is always a lot of thought that goes into it, because it is such a big investment.

You need to educate yourself on what it means to own a home and what the upkeep costs of home ownership are.

Then you need to think about what type of property you want, where, and how much you can realistically afford. Use our mortgage calculator to find out what kind of monthly mortgage payments you can expect to pay.

But before any of that, it is always useful to understand what the reasons are for buying a house. So if you’re asking yourself “should I buy a house now or wait?” check out these reasons why now is a good time to buy:

1. You Feel Ready

The first reason you should buy a house is that you feel ready to do so. Don’t feel pressured into buying a house if it doesn’t feel right, or if you can’t afford it. Once you feel that you’re ready to make the investment and are comfortable with all of the decision making, then you can buy a home.

Buying a home can provide you with a sense of accomplishment and security. It can also be a stepping stone for financial success.

2. Investing in Your Future

Unlike renting – where you spend money each month and don’t get it back – buying a house means you are actually putting the money you spend towards your house. Building equity can be a great financial investment that can help secure your future.

Even if you decide to sell your home, you can use the money you gain from the sale and put it towards another house or another big purchase. Investing in property is a good idea because often house prices rise.

3. Steady Job

You might feel like you are ready to buy your home because you have a steady job and a good, stable, monthly income.

Having a steady income can help you work out your budget and stick to it, allowing you to pay your mortgage and build equity at the same time. This also helps you to avoid wasting money on rent.

4. Tax Breaks on Mortgage Interest

Another reason to buy a home is that you can receive a tax break on your mortgage interest, which means that you can reduce the overall amount you pay in taxes each year.

During the first few years of your mortgage, the majority of your payments will go towards paying on the interest. This interest can be deducted from your taxes.


The above reasons might have helped you answer the question: should I buy a house? But if not, then we also have a quick guide that will help you determine whether you’re ready to buy now or not.

Do You Have Enough Money for a Down Payment?

If you’re buying your own place, it may be quite costly, and the first thing you need to look at is if you have enough money for a down payment. The more money you’re able to put down for this, the better the interest rate you’ll receive for your mortgage.

Traditionally, it was required to pay at least 20% of the cost of the home as a down payment. However, in more recent years, you can get a conventional loan for as little as 5% down. If you qualify for an FHA loan, only 3.5% is required. It is also possible to purchase a house with 0% down if you qualify for a USDA loan.

For each of these loan types, you will need to consider what type of mortgage payments you will be required to make each month, and how much you can afford.

Have You Got Emergency Fund Money and How Secure Is Your Financial Future?

You aren’t ready to buy a house if you don’t have any emergency money saved up or if your financial future (i.e. your income) isn’t stable. The maintenance cost of keeping up a house is around 1% of the house price. This covers anything you need to change or update.

You also need to make sure that you’re in a stable job that has a good monthly salary, so you can have money left over after you’ve paid for the monthly costs of your home.

How Long Does it Take to Purchase a Home?

Another thing to consider when buying a house is the length of time it takes.

Finding your perfect home may take some time. When you begin the search, be sure to consult a Real Estate expert. Once you have found your dream home, it takes an average of 30-60 days to settle, depending on the type of loan you have qualified for.


The process of buying a house can take time, even before you start looking for your ideal property. So before you decide, make sure you’ve thought about whether you’re ready to buy a house.

Buying a house is a big deal and a big investment, however, it can also be very beneficial to you and help with your finances. If you think you’re ready to get your home then contact our friendly team today to start looking for your ideal home.

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