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I Have Bought Two Homes, Here are 5 Things to Start Doing Now if You Want to Own a Home
It doesn’t matter where you are in life, start getting ready for home ownership today.
Homeownership may not be the American Dream anymore, but it is still something that many people want to pursue. This is great news! Owning a home is an amazing experience. It does come at a high cost, but with equally high benefits.
The biggest difference between pursuing home ownership today vs. a decade ago is the amount of time it will take you to be ready.
In the past, you could have easily borrowed or saved a few thousand bucks and been able to purchase a home. Now, with prices so high you need a lot more capital to get in. It could take 5–10 years to be ready. Patience and consistency are key.
Here are 5 things you can do to prepare yourself for home ownership.
1. Pay off bad debt
You will have more bills as a homeowner. By paying off your debt, you will have more money in your pocket to pay for all utilities, possible higher mortgage, and home repairs.
Your pre-approval process will go smoother as well since your debt to income-ratio will not be a factor holding you back
