A lot of people think of owning a home, as an important aspect in the so-called, American Dream, but most fail, to proceed, in an informed manner, so that they can make the decision that makes the most sense, for their situation! After, over 15 years, as a real Estate Licensed Salesperson, in the kingdom valley, I have come to realize, and believe, the better - informed, and prepared potential buyers are, could be the more successful the final results! If and when you decide, you are considering, buying a home for yourself There are at least, 7 key aspects that should be thoroughly considered and understood. With this in mind, the following article will attempt to brief take a look, study, review, and discuss these and the reasons they are important.

1. A good credit rating:Before starting your hunt (house and apartment hunting) be sure to examine your credit in detail! You don't just need to know your Credit Score, butdo get an exact copy of your Credit Report, from all three major, reporting agencies, and ensure the accuracy of your report and there is nothing, that could hinder your chance of success! Most people (especially first-time buyers) will require a mortgage as part of this process So, having excellent credit, is an essential aspect!

2. Sufficient income:Do do you earn enough income and your employment history? Make an appointment, ahead of time, with a trusted, mortgage expert and determine the amount you are eligible for! In this way, you'll be aware, right from the start what the cost range is to consider!

3. You must meet the debt ratio:To get a mortgage, lenders typically apply, at least, two primary metrics regarding, debt ratios. One is the relationship between your total debtand your income and the second is specific to your home loan and income! Be aware of what it is and then address your specific needs, before beginning!

4. Personal area of comfort:Happy homeowners are comfortable in the financial burdens when they own a home! It's an individual decision that you must take a look at yourself with a check up, at the neck and be aware of your personal comfort zone prior to deciding to make the big leap!

5. Down-payment:In the majority of cases Conventional loans, require 20% down payment, however, thisis usually, dependent on the specific conditions of the loan! Can you, comfortably, be able to afford the down-payment, without, becoming, rich in the house,but, stressed, and uncomfortable?

6. Reserves:Prepare using specific reserves of financial funds, that wise buyers, have, in reserve, or in advance. A few of them, are reserve funds for repairs, renovations, maintenance, upgrades as well as unpredicted costs!

7. Prepared to be a homeowner:Are you, emotionally, as well as, financially, well-prepared to be a homeowner? When you rent, your landlord is, generally, responsible for significant expenses however, if you own your own home you're the one responsible! Are you prepared, willing, and able to handle these?