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Contact Charlie Mowery

Phone: 435-619-3422


Mar 15, 2014

Are You Ready to Buy Your First Home?

Buying a new home can often times be pretty scary. People stress about whether or not they have the right finances and finding the perfect house. Yet, if people are prepared for their move it can be stress free. Luckily for us, has come up with some great questions to ask before you take the plunge.

Can I Afford it?

Buying a house will definitely affect your finances; make sure that you can handle it. Right now the housing market is really affordable but many people forget that there are still a lot of upfront cost such as closing costs, down payment, new furniture, moving expenses to name a few. One thing that you can do is to create a budget for your mortgage payment and ownership costs.

Am I Mortgage-Worthy?

Saving up enough cash is pretty hard, but many people forget about looking at their credit.Getting a mortgage is a lot harder today than it used to be. Lenders are looking at everything that you have been doing and want to make sure they know who they are lending to. Know your debt-to-income ratio and the most competitive interest rates.

Do I Plan to Live Here at Least Five Years?

Most experts say that it is not worth it if you are not planning to live in the house for at least five years. The reason is that you will most likely not recoup from the expenses buying and later selling. Also, the first few years of your mortgage is paying off interest, not principal. If you were to try and sell quickly you would have no equity built in your home.

How Will Buying With Another Person Affect Me?

Buying with another person can be quite lucrative. Especially when it comes to combining finances and getting a larger better home than what you could afford if you were buying alone. Make sure that before you do this, you lay out all the cards on the table. This will help avoid stress later on.

Is It Worth the Money?

It is important to remember that the home you buy is an investment. People want a place to settle down and grow old in a place that they loveā€”make sure it is worth it. To find more questions to ask before buying your first home check out this article on

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