Are You Ready for Home Ownership? Find Out Here.

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Real Estate

Have you been dreaming about a larger, roomier or more luxurious living space? Now's the time to make those dreams come true! Let me guide and help with every step of your journey as we explore what steps should be taken towards becoming an a Hawaii home owner on Oahu.


Achieving homeownership can seem daunting at first but there are plenty of resources out there for people who want it badly enough - just let me show how much fun owning property really could be if done right..  Are any questions ringing loud yet inside your head such as "Do I have what’s needed?" Or even worse: “Am I ready to buy a home?”


Let’s find out.


Can You Afford To Purchase A Home in Hawaii?


The first consideration to make is a financial one: can you afford it? Buying in a home is not as difficult or costly of an investment as many people think. If your finances are already stable, then owning may be more affordable than renting for years down the line!  Generally speaking a mortgage payment shouldn’t exceed 35% of your monthly income.  This is a rule a thumb and each individual case is different.


Can You Afford a Down Payment?


If you're confident that monthly payments are no problem, then the next step is saving up enough to cover your down payment. This a lump-sum investment which allows home owners like yourself to purchase their dream property without worrying about financing costs or any other burdensome factors in life!


Most buyers will put 20% as an initial deposit when they buy; but there have been programs created specifically for first time homeowners who need assistance with making large purchases - these can reduce this even further by 10%.


20% down for a $750,000 home is $150,000 which is not an insignificant amount by any means.  A 10% down payment would only be $75,000.  For a Veteran’s Affairs loan generally no down payment is required.


What Type of Hawaii Home Do You Need?


Once you've cleared all of the financial hurdles, don't forget to decide what kind of home is best for your needs. A single young professional might want a condo or apartment as their starter place from which they can upgrade later on in life; someone else may prefer something more rural and space-oriented with plenty outside - perfect if pets are part of life too!


Are You Ready To Settle Down?


Finally, here's some other considerations to think about.  Are you ready to emotionally and physically invest in your local community? Is your career stable enough that you won't be moving for at least a few years? What about that of your partner or spouse? If you don't already, do you envision having children in the future? All of these are considerations that will help you choose the right neighborhood.


To learn more about buying in our area and to view homes that are perfect for first-time buyers, contact me today.

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