Do you have the dream of owning a home, but you haven’t been able to make the investment yet? Sometimes, first-time buyers face common roadblocks to homeownership. But, just because you are facing one or more of these issues, doesn’t mean that you can’t move into the home of your dreams. Talk to our team here at DUFFY Realty for advice and help regarding the best solutions to help you overcome the biggest roadblocks to homeownership.
5 Biggest Roadblocks to Homeownership
These are some of the most common problems faced when people want to buy a home:
- Down Payment: Don’t assume that you can’t buy a home if you haven’t saved for a down payment. Yes, a bit of cash will be needed for the transaction. But there are programs available for down payment assistance if you can qualify for the loan but don’t have money in the bank for the down payment.
- Credit Score: Qualifying for a mortgage can be a challenge if you have a rocky credit history. If you know you have a few late payments and balances that need to be paid, then we can help you find the right financial pro for assistance. Start improving your credit score now so that you are ready for the home purchase in the future.
- Self-Employment: Some people are worried about qualifying for a mortgage when they have a variable income. Certain loans can be used that look at the money moving through your bank account when determining the income you are receiving. For entrepreneurs this is one of the biggest roadblocks to homeownership.
- Market Trends: Are you worried about buying a home because the prices are too high right now? While it is true that real estate prices move up and down with time, the overall market is on an upward trend when you look at the long-term investment of home ownership. Think about the money that you are throwing away on rent each month. Instead of giving that money to pay for someone else’s home, your monthly payment can be building equity for your own home.
- Dream Home: Everyone loves the idea of moving into a big, beautiful home. But it doesn’t mean that you shouldn’t buy a property if you can’t afford the price point that you desire. The best way to get your dream home in the future is to build equity in a good starter home. Be realistic about your current financial situation and buy something that you can afford. Our team will help you find a great match that your family can enjoy. This purchase is a stepping stone to help you afford a bigger home in the future.
DUFFY Realty is here to help with the best real estate strategy for your family and way to overcome the biggest roadblocks to homeownership. If you are thinking about buying a home, then we invite you to start a conversation with our team. We’ll help you overcome some of these common roadblocks to homeownership. Call us at (678) 318-1700