5 Reasons For Not Buying A Home

 

1.  You don’t like the home itself.

You may just plain old don’t like it. It may be the layout, the size of the rooms or the age of the home. Those are things that are not easy or can’t be changed. If you don’t like the color of the paint or the carpet, those things need to be replaced on a regular basis anyway and should not hold you back from purchasing a home you otherwise like. Remember, there is no such thing as a perfect home! The goal is to get as close to perfect as you can.

2.  It needs too much work.

This is a home worth considering. Here is an opportunity to build equity faster so you can move into your dream home. You don’t have to do all the work at once. First fix up the areas you use the most like the kitchen and living room. Then move on to other rooms when you have the money. It is very rewarding to know that you did most of the work yourself. Who knows, when you have finished fixing the place up, it may very well become your dream home.

For some people though, doing home repairs is the next best thing to being shot in the head, so these people will want to look for a home that is move-in ready!

3.  Location.

All location jokes aside, this can be a big factor in a home purchase. How far it is from work, what school district it’s in, how bad the traffic is, how close (or far) away from family it is are all factors that can play a major decision in your willingness to purchase a certain home. With the amount of homes on the market right now, finding the right location should not be too hard.

4.  Can’t afford a home of your own.

This isn’t even a reason. If you can afford to rent, there is a home out there that you can afford. You may even end up paying less. But you must be realistic. You may not be moving up in terms of location or space, but owning a home has huge benefits that you are throwing away by renting. Factor in repairs when you figure out what you can afford. Put away some money every month for unexpected repairs. Remember that the home you buy is a stepping-stone to the home of your dreams.

 5.  Bad Credit.    

This really is a valid reason for not purchasing a home. Unless you are buying a home with cash, you will not be able to get a mortgage with bad credit. The good news is that your credit problems can be turned around by diligently focusing on the problem and taking action. Your realtor can help you turn your credit around so that you may be in a position to buy a home from her (or him) in the future. Forming good habits around credit will be a “credit” to you for the rest of your life, so it’s never too soon to start replacing those bad habits with good ones. I suggest going to your realtor (or your bank) for advice because there are plenty of credit repair scams out there!

Happy House Hunting!

 Oh, by the way, I’m never too busy for your referrals!

 ~SusanSellsFast~