|Ready to buy a home? Take our test to
Julie Garton-Good, GRI, DREI
Are you wondering if you're ready to take the home buying
plunge? After all, it means committing not only financial resources, but making
an emotional commitment as well. The following test will help determine your
emotional barometer for owning a home, your level of motivation, as well as your
ability to commit to home ownership for the long haul. In fact, taking this test
could actually save or make you money! And, if you pass it, there's a good
chance that your path through the rest of the home buying process will be a much
smoother one. So here goes.
If you agree strongly about the item, give it a +1. If you
feel neutral about the item, give it a 0. If you feel negatively about the item
(or if it's outside of your capacity), give it a -1.
- ___I could live in one location for an extended period of
- ___I will spend the time required to maintain a home in
- ___I will establish and maintain a creditworthy lifestyle.
- ___I commit to pay my mortgage and home maintenance bills
- ___It would not bother me to use my savings to buy a home.
- ___I would spend money to keep a home in good repair.
- ___I would budget home repair costs into my monthly
- ___I can balance my home buying emotions with logic and
- ___I will make sure that the home I buy will address my
financial, as well as my emotional needs.
- ___Pride of home ownership is important to me and a goal I
wish to achieve.
If your score is a positive number, then you're a candidate
for home ownership. (The higher the number, the better the candidate!)
If your test scored a negative number, go back over the
questions to determine where you need to focus. For example, question #1 &
#2 deal with commitment, #3-#4 building and maintaining credit, #5, #6, & #7
costs of ownership, and questions #8, #9, and #10, emotions of homebuying. NOTE:
There's nothing wrong with a low score. It just means that buying a home may not
fit well into your life at this point. And knowing that fact is half the battle!
If you decide that now is not the time to buy, you may want
to work on the areas where you scored low. This can strengthen you as a home
buying candidate for the future.