Prepare Now To Buy A House

Hoping to buy a house?

If you’re tired of renting, prepare to buy in anticipation of the market changing. First, start saving for a down payment. Set specific goals and be willing to make sacrifices. Consider moving in with family or friends. Find someone with a garage apartment or guest house and see if they’ll trade lawn care, maintenance, or renovations for rent. Rent or buy a tiny home, camper, or RV for temporary living. Can your parents help with a down payment? Do you qualify for lenders that are offering low down payments? Be patient while waiting for mortgage rates to drop and more homes to come on the market in your area. When you think you’re ready to buy, create a budget with a proposed mortgage payment. Include all expenses you may encounter, and don’t fudge. It’s wise to buy in a price range that keeps your expenses similar to your rental costs or less.

Buying too much home impacts giving, saving, debt elimination, and the freedom to follow the Lord. It can create a stress that affects your marriage and career. Just because you qualify for a more expensive home doesn’t mean that you need one! Praise God for where you live now. There are many benefits to renting that aren’t available to homeowners. You don’t have a mortgage or maintenance to worry about.  In the meantime, remember to number your days, for we’re just passing through. Steward wisely, and live intentionally with your “future home” in mind. Our hope is in the life to come, not in this one.

And if you can’t buy a house because of credit card debt, Christian Credit Counselors can create a debt management plan specifically for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.