VA LOAN CAPTAIN BLOG & Learning Center

Buy On YOUR Time

By: Grant Moon 01/09/15 12:12 pm

You may be at work one day and overhear one of your coworkers talking about the new home they just bought and how excited they are. You may also see a “Sold!” sign down the street or read an article about the many benefits of home ownership. And there are many. Maybe you’ve reached out to a real estate agent acquaintance about buying a home and suddenly the agent is your new best friend. Or at least in the agent’s mind, anyway.

Let’s see, when you own a home, you’re not throwing your money away each month and making the mortgage payment for the landlord. You’re able to deduct the mortgage interest paid from your federal income taxes. You have a place to call your very and benefit from the increase in equity over time. And hey, rates are near record lows so it’s a great time to buy, right?

But it may not be. Maybe for someone else but you might not be ready in any sense. Let’s be clear, it’s a good thing to own a home but don’t feel as if you’re forced into buying one. Buying a home and using your VA home loan benefit is a positive but sometimes buyers simply aren’t ready. It’s big commitment and there are other reasons not to buy a home. For one, renting allows a bit of freedom. If you don’t like where you live you can always find another rental once your lease expires. There are no maintenance charges you’re responsible for. If the hot water heater goes out, someone else pays for it, not you.

The issue isn’t whether or not it’s a good time to buy, the issue is whether or not you’re ready. Just because your buddy at work bought a home isn’t an automatic that you should. Buy at your own pace. Ask questions, sure. Do some research. But don’t feel pushed around or bullied into buying. The time will come when you’re ready to buy.

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