Buying a home is a big life decision. So before a person buys a home, they must become mentally and financially prepared to do so – especially if they are currently renting. The shift that a person makes from being a renter to a homeowner may be a gradual one. Often, people don’t just wake up one morning wanting to buy a home. Instead, they find themselves gradually becoming dissatisfied with life as a renter. How does a renter become a new home buyer?

You’re Running Out of Room

Apartments tend to be much smaller than the houses that people may buy. Living space is usually limited in apartments, while a single family home typically comes with extra storage space like an attic, a basement, shed or a garage. And those homes that don’t have much storage space can often be renovated or changed to add storage space. A shed can always be constructed, a garage can always be cleaned out to make room for more boxes. This makes living in a Maple Grove new home much more comfortable than living in an apartment.

You’ve Got Savings

It takes money to buy and maintain a home. Home buyers usually need at least a 3.5% down payment, about 1-3% to pay for closing costs, plus money for extra expenses like moving and repairs. Renters who don’t have a savings are usually not ready to buy a home just yet.

You Are Tired of Close Neighbors

One of the complaints that apartment renters eventually develop about their living situation is the close proximity to neighbors. It’s hard to live beneath someone who likes to stomp on the floor, or next to door to someone who has loud arguments with their spouse. Living in a single family home often brings peace and quiet that makes it easier to relax. Renters who like to be loud themselves often enjoy living in a house because they no longer must put up with noise complaints from neighbors.

You’re Ready to “Settle Down”

One of the great benefits of apartment living is that renters can leave any time their lease ends. This can be an ideal situation for someone who is young, inclined to leave their job soon or who is looking for adventure in other cities. However, for a renter who has a stable job and a stable home life, the ability to stay mobile may not be such a bonus. It’s at times like this that many people develop an interest in buying their own property.

You Want Kids Or Have Kids Now

Kids need room to run around. They like yards where they can play, driveways where they can bounce a basketball, and sidewalks where they can learn to ride a bike. Renters who have children, are planning on moving while pregnant or with a newborn often find themselves looking to single family homes with sudden interest. Renters who plan to have children soon often buy a house before getting pregnant to make the transition into parenthood easier.

You Want To Make An Investment

A home is an investment that usually pays off with time. Over time, real estate tends to appreciate, so that homeowners who sell many years after buying will often make a sizable profit. Many buyers believe this is preferable to renting because the money they spend on their mortgage eventually comes back to them when the house is sold.

You Love To Look At Homes

Sometimes people develop a desire to buy a home just because they fall in love with single family residences. Renters who suddenly find themselves going to open houses, looking at for sale signs or browsing the listings online are often just about ready to take the leap into home ownership.

If you fit any of the descriptions above, contact a reputable real estate professional in your area. Your real estate professional can help you decide which home and which neighborhood is right for you.