Deciding home ownership is the right thing for you at this point in life isn’t something to take lightly. It’s one of those decisions in life that cement your standing as an adult. Home ownership is a great way to spend money that you would otherwise spend on rent, on an investment that increases in value and could ultimately make you money when you decide to sell.
Did you know that manufactured homes appreciate at roughly the same rate as traditional site built homes? To boot, they provide you with the flexibility of choosing where you want to build your house and are affordable enough that you can splurge on location.
But how do you know if home ownership is really for you? Read on to find out!
You’ve Got A Job | It sounds obvious, but many people think that they can go into buying a house much like they would when selecting a place to rent. Although you might be planning to buy and have roommates who can help foot the bill for your mortgage, it’s important to be able to afford the home you’re buying without the help of others. If you’ve got a stable job that provides a reliable paycheck, then home ownership might be for you.
Your Finances Are In Check | Before you take on the responsibilities of home ownership, think about the health of your other finances. Do you have credit card debt? A vehicle that needs to be fixed? Get all of that taken care of before you buy your home, so you can sleep sound at night and not have to worry about other responsibilities just as you buy your home.
You Plan To Stay Put | If your job or other responsibilities require you to move frequently, you probably won’t want to buy a house. But if you plan to stay put for at least 3-4 years, buying a home could be a great way to establish a home base and really set some roots wherever you are.
Down Payment | Do you have at least a 5% down payment and enough for closing costs? By ensuring you’ve got this money set aside you can rest assured that the buying process will go smoothly and you won’t have to take out more of a mortgage than what you need.
Patience | Are you a patient person? Finding the right home and then taking the time to settle in and slowly (and affordably) furnish it can be a frustrating process for those who want everything right away. if you’re willing to hold out for the right home and then not rush into spending all your money on furnishing it (because usually that money has to go into some sort of upgrade or essential fix) you could be ready for home ownership.
If you’re ready for home ownership contact our team at Solitaire Homes. We’ve got a range of lovely floorplans offered for both single wide and double wide manufactured homes. Each home we build comes with a commitment to quality and a 90-100 warranty. Learn more about how we build our home and what we offer by visiting our construction page.