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Are You Ready To Buy A House?

If you’re considering buying a home, congrats! This is a huge step. To be sure you’re ready, follow my home buying guidelines below to help you achieve financial freedom.

  1. Be completely debt-free.

  2. Have at least a 20% down-payment saved up (excluding closing costs).

  3. Have 3-6 months of monthly expenses saved in a fully-funded emergency fund.

  4. Have 5% of the home price saved up to pay closing costs.

  5. Be stable in your job (no job changes within 3-4 months before or after buying).

  6. Buy in an area you can stay for at least 5 years.

  7. Never buy a house with someone to whom you are not married.

  8. Do not buy a house that you cannot afford on ¼ of your take-home pay on a 15-year fixed rate mortgage.

  9. Once you buy your home, pay cash for any and all renovations, home improvements, furnishings, etc.

  10. Buy a house with a comfortable enough mortgage payment to give you room in your budget to make extra mortgage payments. (Four extra mortgage payments per year can shave off 11 years from your mortgage!)


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