Is a Chapel Hill Home Purchase in the Cards? Take the Test

Are you ready to take advantage of low interest rates and buy a Chapel Hill home? There are many from which to choose currently as well. In addition to the availability of affordable homes when compared to median incomes, this may be a good time to consider the purchase of a home. You may still have questions. Look at the following quiz: Am I Ready to Buy?

1. Have you been pre-approved for a mortgage on a Chapel Hill home? a) No; b) Yes; c) I have filled out sample pre-approvals online.

2. Do you have an emergency fund set aside that will cover eight months of living expenses? a) No, I have no money saved; b) Yes; c) Not enough for 8 months, but a few months.

3. Do you have a 20% down payment for a Chapel Hill home? a) No; b) Yes; c) Not yet, but I am saving.

4. What is your credit score? a) Under 620; b) Between 730 and 850; c) between 620 and 730.

5. How much home do you want to buy? a) I want a huge home and will not settle for less; b) I have decided within 500 square feet; c) I have thought about it, but am uncertain

Image courtesy of www.naturallyengineered.com

6. Do you and your partner agree on home-buying points? a) No, not at all; b) For the most part; c) We agree on some but have different ideas.

7. Is your employment? a) Temporary; b) Full-time and safe from lay-offs; b) Full-time, but some lay-offs are occurring.

8. Why do you want to buy a Chapel Hill home? a) For a home I can show off; b) For a stable environment for family; c) To decorate as I please.

9. Are you planning to stay in the city for the next 3 to 5 years? a) I will not be here that long; b) Yes, for certain; c) I do not know.

10. Have you put a budget together for the purchase of a Chapel Hill home? a) I didn’t consider it important; b) I have a budget with several scenarios; c) I have put together a couple.

Are you answers mainly a)? If so, you should take some time to get your finances in order. Are they mainly b)? You are ready to purchase a home! Are they c)? You are almost ready. Take a few more months and work on getting everything together.

Related posts:

1. How to Secure your Chapel Hill Home Purchase
2. How to Save for your Chapel Hill, NC Home Down Payment
3. Best Summer Home Maintenance Tips from your Chapel Hill Realtor
4. Christine Khoury, your Chapel Hill Realtor, gives the true numbers behind home affordability
5. Chapel Hill Realty Tips – Selling your home in a Down Economy