Owning a home is a serious decision that requires a lot of thought. It’s important to research and think about the buying process to ensure you have considered everything before making the massive purchase. There are as many reasons to buy a home as there are not to buy one. Because of this, it can be incredibly difficult to decide whether or not owning a home is right for you.

Holland Homes Sales wants to help you through this process because you shouldn’t have to go alone in making this decision. Here are a few things to contemplate if you are thinking about becoming a homeowner:

Credit Score

Your credit score is one of the most important factors in determining homeownership. In order to be approved for a mortgage, you have to have a solid credit score for the bank to see that you are a responsible individual that pays on time. Credit scores affect how much interest you will pay which means if your credit score is good, then you will have a lower monthly interest payment. If you are thinking of buying a home but do not have the best credit score, check out how to improve your credit score here.


Having plentiful savings is key to being a successful homeowner. Houses require frequent maintenance that you might not be used to fixing because a landlord or parent usually deals with it. Starting an emergency fund would be smart because unfortunately, breaks and leaks that you do not expect will happen. Setting aside money every week or month to start that savings account will help cushion any uncertainty that comes with owning a home. If you only have money for a down payment, start saving and wait to pay a down payment until you are comfortable in your savings.


Debt is a huge determining factor in whether or not you should buy a home. Abundant credit card debt or swimming in student loans may be a sign that owning a home isn’t right for you just yet. However, if you are good at paying your debts and manage to have extra money for home maintenance or a down payment, this is a much better sign that it is time to become a homeowner. You do not want to be house poor, so understanding the state of your debt is crucial when deciding to buy a home.

Housing Market

There are many factors that affect the housing market. Interest rates, economic state and housing availability all influence what the housing market is like at a certain time. Taking advantage of low interest rates or seeing if the housing market is depressed are both major benefits for buying and owning a home. Look out for buying opportunities when the market feels too good to be true and you are financially able to buy. These FAQs will help you decide further on whether or not to buy a home after deciding the market looks great.

Long-Term Ownership

Homeownership is an investment in time as well as money. While it may not yield the same financial gain as it used to, owning a home is much more of a commitment than renting. If you are going to be in a certain place for five years or more, according to financial experts, buying a home is more of an option considering you have a good credit score and extra money saved. If you are unsure about your future living situation and factoring in the moving and selling costs isn’t worth it, then owning a home may be a future goal rather than purchasing now.

Steady Income

Owning a home requires diligent planning and goal setting, so having a steady job would help ease those future worries about income and financial stability. Not every job is lifetime guaranteed, but making sure you are in a field that will provide security will better ensure your ability to own and maintain a home. Going along with long-term ownership, if you are planning on relocating soon due to a different career path, homeownership should be assessed at a later date.

Future Planning

Planning for homeownership can be an exciting process, especially if you are thinking about needing more space for a family. Many families consider buying because staying in one place is great for community building and schooling for future children. You will also pay less on capital gains taxes if you own your home longer. Owning a home for your future plans is feasible if you are in a solid financial state and want to take that next big step for your anticipated long-term plans.

Becoming a homeowner is a huge accomplishment, so Holland Homes Sales wants to help you with that process to ensure it is the best time for you to take on this feat. After taking all of these things into account, Holland Homes Sales is here to help you find your perfect home. Contact us today to learn more about how we can help you!

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