Whether you are a Realtor, a real estate attorney, a mortgage originator or the actual buyer in the home purchasing process, at some point the question may arise that asks ‘Are you actually ready to buy a home?’
This is a question that will hopefully have been asked and answered sooner rather than later in the process as there is much work to do, particularly in the preliminary stages, for all of the professionals involved and most certainly for the prospective homeowner.
Indecision and wavering focus can certainly be normal for anyone who is getting ready to make what will likely be the single largest expenditure and financial decision of their lives!
But, on-the-other-hand, they can also be associated with someone who may not be ready to buy and is simply ‘kicking the tires’ to see what is out there in the marketplace. Or perhaps they are 100% ready to buy but are not totally sure of their finances, possibly not ready for the additional responsibilities of home ownership or in a rent vs buy analysis, renting is still the clear winner.
For the potential home buyer and for all of those involved with them in the process, this flowchart may be extremely helpful in determining real estate readiness!
Flowchart of home buying readiness!
Infographic courtesy of MarketLeader.com
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Content created by Michael Haltman