What requirements should and/or must I check off to buy 1st home?
I'm turning 24 this year and want to buy our first home, hopefully in 2021 with my wife and daughter. I work in outside sales as a 1099 worker. What kind of income, length of income, money saved, etc, etc, etc do I jneed to make this happen? What are things to consider that you wished you considered prior to buying your first house?
We intend to buy something small, but not tiny. We live in Spring, Texas and real estate is really inexpensive for the most part. Obviously, you can buy expensive, but we'll likely keep it under 200k. I have a really good deal with work, so we dont plan on just leaving all of a sudden, we just would rather not pay rent super long term.
Thank you in advance for any help!
First set your goals. Then set your criteria to help you meet those goals. Criteria includes your requirement on cash return, how much per month do you want to cash flow, what kind of neighborhood, and so on. Then make sure you have a rough draft of financing lined up. Talk to private lenders or Banks and make sure that you are pretty sure you're good to go. If you think you might wholesale you don't have to worry about the financing is much. Other than that get out there and take some action!