Hello neighbors,

Thinking about buying a home, have a few fears? Well you're not the only one, buying a home can be a little scary. Take a look at some common questions many have when deciding whether to purchase a home.

Do I have enough money to purchase?

One of the best ways to finding out the answer to this is to get pre-qualified for a mortgage. You will need to really examine your finances. Normally you should be able to afford at least 20% of the purchase price for a down payment. In addition, you should possess less than a 36 percent debt to income ratio. You will also need to be able to afford all closing cost after making a down payment.

Will I have buyer's Remorse

If you're a first time buyer you probably have in mind your dream home or whether you're a repeat buyer, however like the old saying goes "you have to crawl before you walk". It's ok if your home doesn't have exactly every single thing you desire. Remember, you're building equity. One day you will get that dream home!

Will I be able to Handle Repairs?

It's ok if you're not Mr. or Mrs. Fix it. You may want to consider taking some classes at your local Lowes, Home Depot, or other home improvement store. You may also want to invest in a handyman's guide from your local book store. Just keep in mind, there will be some type of repairs needed even in a new home at some point.

What If I need to Move?

Because most home owners want to build equity, you may not make any money on your sale if moving before 3 years of owning your home. Typically equity doesn't start to build until after owning for at least 3 to 5 years. You could also possibly lose money in closing costs.