Is buying a home worth it, in your opinion?

Question

And if you have any advice, please share it with me! 
We are looking into buying our first home, and have no idea where to begin.

Answer

Oh yes, absolutely

Answer

100% as long as you can  afford to! Then you can do what you want and not have to answer to anyone that's what I liked best about owning a house

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You don’t want to constantly be paying someone else’s mortgage and have nothing to show for yourself. That’s silly. If you can buy a house, do it.

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Interview realtors

Answer

You’ll need to get preapproved for a mortgage before you can buy, and that should be the first step if you’re serious about buying. It will be a hard credit check, so you want to be sure about your broker and only do this once. They will decided or much to lend you/how much house you can afford based on your debts, income, credit score, etc. You will need some cash for a down payment. Standard is 20% down, but can be significantly lower with some first time buyer programs (though if you have a mortgage for more than 80% of purchase price you will need to pay private mortgage insurance). 
Once you know how much you can afford get a real estate agent who specializes in what you are looking for (location, condo vs SFH, etc). Pick someone who gets you, as you will probably spend a lot of time together touring houses. You may need to make some compromises so it’s important to prioritize what is really important and what is just nice to have. 
Depending on the market (and your budget) it can be a long process, or a relatively quick and painless one.

Answer

Yes, but there is also a lot to consider. You should get pre-approved for a loan before you even start looking. Don’t go out looking for a house at the maximum that you’ve been approved for, sit down, review your budget and determine how much you’d actually be comfortable doubting each month. They typically approve you for far more than your budget will actually be able to afford. 
Keep in mind that there are additional expenses with a home. When I lived in apartments, some utilities were always included, if not all. As a home owner, you’ll be responsible for gas, electric, water, trash pickup, possibly recycling and HOA fees as well as home owners insurance. 
It’s also important to remember that things in a home break, and you’ll be responsible for replacing or fixing everything. I bought my first house at 25 when I was single. I’d say that one big thing broke a year. Oven, dishwasher, washer/dryer, garage door opener, air conditioner. All had to be replaced in the decade that I lived there. 
Upkeep is also never ending. Mowing, weeding, repainting, etc. There’s always something that needs done. 
Having said all of that, I’m still really happy that I bought a house when I did. My husband also had a home when we met, and by selling our homes we were able to buy a very nice family home because of the equity we had in our homes. If we’d been renting all these years, we wouldn’t have been able to buy our current home because we just wouldn’t have had the same amount of money. Having a place that is yours, that you can paint and decorate as you wish and that you can grow your family in is a really great feeling.

Answer

The best thing you can do is visit a bank and speak with their mortage lender. They will tell you exactly everything you need to get started and get your pre approval letter. Typically for 100% financing (meaning no out of pocket closing costs) you need a 680 credit score or higher. You can still qualify around a 580-620 score but face higher interest rates and out of pocket expenses. You'll need most recent bank statements, paystubs, tax returns, w2's, copies of drivers licenses, social security cards, etc. That's just the start really.

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Also, find a realtor. Most often, the costs involved with employing a brokerage service are covered by the seller, not the buyer. A realtor is there to stand up for you and make sure that you’re represented fairly in the transaction.

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We bought our home with a USDA loan last year and got a great interest rate. This program has income limits though so it just depends if you qualify.

Is buying a home worth it, in your opinion?

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