1 DETERMINE YOUR BUDGET
Can you afford to buy a house? The most influential factor in deciding if you are ready to buy a house should be the state of your finances. What is your income every month? What are your monthly expenses? Are you up to date on all of your bills or are you behind on payments?
If you are currently a renter, using the amount you pay in rent each month as an estimated house payment is a good gauge, but there are other expenses such as property taxes, insurance, maintenance costs and homeowner’s association fees that you need to take into consideration.