Signs You’re Ready To Buy Your First Place
Buying a home–whether that’s a two-bedroom condo or a four-bedroom house with a garage and pool–feels SO adult. Even people who feel pretty darn grownup, and who are in fact in their late thirties, can hear the question, “You thinking of buying?” And fall into fits of laughter as if it’s a joke. If you live in a city, this is probably especially true since everybody rents in the city. But property is one of the most solid investments you can make. Even when property values decrease, you still have a place to live. Once you’ve paid it off, that’s yours–you’ll never need to worry about handing over a paycheck every month just to make sure you have a roof over your head. And, a lot of younger couples don’t realize that buying property is more doable than they think. So, here are the signs that you are ready to buy your own place.
A mortgage would be less or equal to your rent
You’ve calculated it out and, your mortgage payments would be less than or at least equal to your current rent payments. That means you could put the money you’re already paying each month into something that would ultimately belong to you.