HawaiiHaven - Deciding to buy a home

Is now the right to buy? Are you ready to buy? Can you afford to buy? These are all questions to consider when you are deciding to buy a new home.

Whether you are buying your very first home or ready to sell your existing home and move to a new location, you need to make some big decisions. We're here to help, so lets see if we can't help you answer some of those questions.

What Are the Benefits of owning A Home?
The first step in making any big decision is weighing the pros and cons of that decision. So to begin this discussion, start a list of all of things you would have to gain if you purchased a new home. Use these questions to help you start your list:

Do you need more room for a growing family?
Will you be closer to schools for your children?
Will you be comfortable in the new home?
Can you decorate the home to your tastes without high costs?
Are you moving closer to friends or family?
Is the home in an area where you want to be?

Examine Financial Concerns
Buying a home is one of the largest single purchases you will make in your entire life. It's a big commitment, so prepare yourself with the right information before you make the decision to buy a new home.

Is it better to rent or to buy?
There are only a few reasons to rent rather than buy, but in some cases renting can be a better decision. If you are planning to move or expect to be transferred in the near future, you may want to rent. Likewise, if you like the area where the home is, but you're not quite sure if its right for you, it may be a better option to live there for a couple of years before you buy. For a better idea of what to do, use our Renting vs. Buying Calculator
How much can you afford calculator
Do you have enough money saved to cover a down payment, your closing costs, moving expenses? If you're selling a home, then buying, is your lender willing to give you Interim Financing? If you buy this home, will you still be able to meet your other financial obligations? These are all questions you need to answer for yourself. Your mortgage lender or your Realtor can help you examine different aspects of your financial situation. You can also use our how much can you afford calculator
Use Our Other Calculators to help you decide
We've got some great calculators to help you make the decision to buy your next home. Click here to use our Mortgage Calculators

Responsibilities of Home Ownership
There are most certainly many benefits to owning your own home, but their are also many added responsibilities. It is important to ask yourself whether you are prepared to take on these additional responsibilities before you make the commitment to buy. Here are just a few things to think about before you buy.

For buyers who currently rent
You will have the added responsibility of lawn maintenance, landscaping & keeping the exterior of your home. You will have to pay for any maintenance or repair work on home systems or structural problems. If something breaks, its your responsibility. You will have to comply with all federal, state and local laws as they pertain to your property including paying property taxes, etc.
For current home owners
Many of your responsibilities will stay the same, however, in many cases, you will have a larger home with larger responsibilities and more work to maintain. You should also consider whether your home furnishings and appliances are well suited for this new home otherwise, you'll find yourself having to buy new things.

Whatever you decide is the best path for you to take, be sure to find the right information and the right person to represent your needs. While you can buy your own home without the help of a Realtor, having someone to represent you and your concerns can help to ensure that you receive the best terms, the best advice and the best home.