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But what if you are able tobuy a homeand you just dont know it?
GOBankingRates spoke with real estate experts to learn about the 10key signs youre ready to buy your first home.
You Have a Good Credit Score
Prospective lenders are going to focus on your credit score.
It needs to be good or better than good.
Higher credit scores indicate financial responsibility and often lead to lower monthly mortgage payments.
That said, you still need agiant nest eggfor this cost.
This is a key factor in securing a mortgage.
Youve Done Your Research
Buying a home isnt just a purchase, its an investment.
And its not just an investment in real estate; its an investment in a specific market.
Were talking repairs, maintenance and, if applicable, HOA fees.
Plus, they may require time, research and strategy.
Youre ready to buy only when you feel confident that you could.
Another sign that one is ready to buy their first home is actuallyfeelingready, Okhovat said.
I believe strongly in gut instinct and trusting oneself to know they are ready and committed to homeownership.
There is no way other to explain this than being self-sufficient enough to recognize this.
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