--- title: Signs You're Ready to Buy a Home Now description: Knowing when to buy a house is critical so you can be confident in your decision. How do you know? Look for these 7 signs you’re ready to buy a home now. image: https://blog.homesandland.com/hubfs/signs-youre-ready-to-buy-a-home-now%20%20(1).jpg --- [![Homes & Land](https://blog.homesandland.com/hubfs/Images/hnl-logo.svg)](https://www.homesandland.com/) - [Homes](https://www.homesandland.com/homes) - [Rentals](https://www.homesandland.com/rentals) - [Agents](https://www.homesandland.com/agents) - [Commercial](https://www.homesandland.com/commercial) - [Open houses](https://www.homesandland.com/open-houses) - [Land](https://www.homesandland.com/land) - [Mortage](https://www.homesandland.com/mortgage) - More [Rentals](https://www.homesandland.com/rentals) [Agents](https://www.homesandland.com/agents) [Commercial](https://www.homesandland.com/commercial) [Open houses](https://www.homesandland.com/open-houses) [Land](https://www.homesandland.com/land) [Mortage](https://www.homesandland.com/mortgage) - [Log in](https://www.homesandland.com/account) - [Blog](https://blog.homesandland.com) - [Advertisers](https://advertise.homesandland.com/advertise) [How a Realtor Makes Home Buying Easier](https://blog.homesandland.com/how-a-realtor-makes-home-buying-easier) Buying a home is one of the most significant financial decisions you’ll ever make, but the process... [Read More](https://blog.homesandland.com/how-a-realtor-makes-home-buying-easier) [13 Cities That Will Pay You To Move There](https://blog.homesandland.com/13-cities-that-will-pay-you-to-move-there) The physical act of moving is often a hassle. But starting over somewhere fresh and new can be... [Read More](https://blog.homesandland.com/13-cities-that-will-pay-you-to-move-there) [5 Benefits Of Living In The Countryside](https://blog.homesandland.com/5-benefits-of-living-in-the-countryside) Are you over the hustle, bustle, and cost of city living? What draws us somewhere at one point in... [Read More](https://blog.homesandland.com/5-benefits-of-living-in-the-countryside) [5 Questions to Ask Your Realtor When Selling Your Home](https://blog.homesandland.com/5-questions-ask-realtor-when-selling-home) If you’re like most home sellers, you probably already know that [working with a realtor](https://blog.homesandland.com/need-realtor-help-sell-home-top-dollar) can mean so... [Read More](https://blog.homesandland.com/5-questions-ask-realtor-when-selling-home) [10 Step Guide to Selling Your Home](https://blog.homesandland.com/10-step-guide-selling-your-home) Ready to put your home on the market? Many people hope for a stress-free sales process, but the... [Read More](https://blog.homesandland.com/10-step-guide-selling-your-home) [Home](https://www.homesandland.com/) [Homes & Land Blog](https://blog.homesandland.com) > Signs You're Ready to Buy a Home Now --- # Signs You're Ready to Buy a Home Now The idea of having a home is nice. You may imagine the possibilities, the potential, the freedom to make a house your home. But wanting a home, at some point, does not mean you are ready to make this big step. Knowing when to buy a house is critical so you can be confident in your decision, stave off buyer’s remorse, approach the process methodically (so you can close the best deal!).  ## 7 Signs You’re Ready to Buy a Home When you are ready to buy a home, you’ve gone past the wanting and the “wouldn’t it be nice?” stage. You are either prepared to take action or you have already started the process. Here are seven signs you’re ready to buy a home: 1. ### **You’re Ready for Roots** No, [buying a house](https://blog.homesandland.com/home-buying-for-beginners) does not mean you are chained to it forever - but it is a significant move, and you will have ties to that location and area into the foreseeable future. Typically, a home purchase makes the most sense when the buyer plans on staying in the home for at least five years. A shorter term situation can cost you big bucks. So, before you get your heart set on a cute Cape Cod or an elegant Victorian, ask yourself: - Am I likely to be at my current job for the next few years? - If a new opportunity came along in my career, would I be willing to move? - Is my living situation going to change soon (e.g. moving in with a partner, starting a family, going empty-nester, etc.)?  - Does the area meet my needs in terms of services and amenities? - Do I like the area? Yes? Great! If you are not sure of some of your answers, it may not be the right time for you to move ahead. Give it some careful thought.  ![knowing-when-to-buy-a-house](https://blog.homesandland.com/hs-fs/hubfs/knowing-when-to-buy-a-house.jpg?width=1500&name=knowing-when-to-buy-a-house.jpg) 1. ### Your Credit Score Is Strong [A strong credit score](https://www.realsimple.com/work-life/money/money-planning/buying-a-house-signs-you-are-ready)does not necessarily indicate that you are ready to buy a home - but it is a good sign! A score in the 700s (or better, 800s), will help you secure a mortgage with other interest rates and associated fees. How’s your credit? If you are not sure, you can access three free reports a year from the major credit bureaus (Experian, TransUnion, and Equifax). Just visit [annualcreditreport.com](https://www.annualcreditreport.com/index.action) for yours; they do not have the score, but you will be able to see if there are any debts that have a detrimental impact. Your bank or credit card institution may also offer a free [credit score](https://www.checkfreescore.com/) as well.  If your credit is not where it should be, take steps immediately to improve it. You *can* do it, and the better your financial position, the more ready you are for this big step. 1. ### **You Have Your Down Payment Squared Away** Conventional wisdom holds that you should put down 20% when you purchase your home. For a $200,000 property, this is $40,000. The[20% guideline](https://www.nerdwallet.com/blog/mortgages/use-20-rule-guide-real-estate-decisions/) will help you secure lower interest rates and lower monthly payments. Can your down payment be lower? Yes. You can put 10% down, or even 5%. Some people do this when they want to get into a home as soon as possible and start building equity. Keep in mind that your interest rates may be higher, and your monthly payments will certainly be. ![A couple showing one of the signs you're ready to buy a home now by having a down payment squared away](https://blog.homesandland.com/hs-fs/hubfs/signs-youre-ready-to-buy-a-home.jpg?width=1500&name=signs-youre-ready-to-buy-a-home.jpg) 1. ### **You Can Cover Closing Costs** You’ve scraped and saved; you have enough for a downpayment - but don’t forget your closing costs. This includes inspections, appraisals, and a grab bag of other expenses. In the US, the average closing costs are $5749. Can you cover it?  The good news is that you can lower this expense; some banks help out if the buyer uses them for the financing, and some sellers will cover all or a portion. 1. ### [**Your Finances Are Stable**](https://www.opendoor.com/w/blog/am-i-ready-to-buy-a-house) Down payment: check. Closing costs: check. But what about the refrigerator that stops working just as you move in? The stove you want to upgrade? The furnace that should really have a servicing? The drapes, rugs, couches, and linens that you want to add your own stamp to the house? Make sure you have money saved for these expenses, as well as an emergency fund.  1. ### **You Are Ready for Responsibility** Owning a house is a lesson in responsibility! When the plumbing acts up at midnight, you can’t call your landlord. When your dishwasher starts sudsing out of control, you are the handyman. If you love learning and completing home projects, improvements, and repairs, and if you are willing to either put in the time or the money, you may just be ready! 1. ### You Can’t Imagine Delaying Your Dream Any Longer  You have your finances in order, you’ve been binge-watching [HGTV](https://www.hgtv.com/), and you simply cannot wait to fulfill your dream of owning your own home. Ready? We think so! ![A couple who can't imaging delaying buying their dream home any longer](https://blog.homesandland.com/hs-fs/hubfs/signs-youre-ready-to-buy-a-home-now.jpg?width=1500&name=signs-youre-ready-to-buy-a-home-now.jpg) ## **You’re Ready - But What About Coronavirus?** There is no doubt that the coronavirus threw a wrench into the works and impacted… well, everything. Will it also impact your ability to buy a home? It may. There’s no solid answer that fits everyone. In some locations, real estate agents actually have too many buyers and too few houses! It’s too soon to tell [how the market will react to COVID](https://www.washingtonpost.com/business/2020/04/13/buying-home-during-covid-19-pandemic-it-can-be-done-under-right-circumstances/), especially in the longer-term, so it is important to get back to basics. Ask yourself the same questions: Am I planning on staying in the area for at least five years? Is my job stable and secure? Does this location/neighborhood offer the amenities and services I need?  We have good news: the pandemic has helped drive interest rates down to near-historic lows. There are also [programs available to help with downpayment costs](https://themortgagereports.com/66823/down-payment-assistance-first-time-home-buyers-during-covid-19). These factors can tip the scales in favor of buying now. Knowing when to buy a house is critical - but little did we know that we’d have to enter a global pandemic into the equation. But if you have a high level of readiness, this does not need to derail your plans.  Ready to start looking? [Visit Homes & Land](https://www.homesandland.com/) for terrific listings and all the resources you need to proceed with confidence. [![Buying and Selling a Home in the New Normal: FREE Guide](https://no-cache.hubspot.com/cta/default/4945355/e71dcd5a-c222-4c49-992b-995678b8533b.png)](https://cta-redirect.hubspot.com/cta/redirect/4945355/e71dcd5a-c222-4c49-992b-995678b8533b) Learn something new? Want to pass an idea to a friend? Share the knowledge with your network! ![Share to your network!](https://blog.homesandland.com/hubfs/Homes_And_Land_October2018%20Theme/Images/share-arrow.png) [Buying a Home](https://blog.homesandland.com/tag/buying-a-home) ### Select a Category - [Buying a Home (83)](https://blog.homesandland.com/tag/buying-a-home) - [Real Estate Marketing (49)](https://blog.homesandland.com/tag/real-estate-marketing) - [Selling a Home (38)](https://blog.homesandland.com/tag/selling-a-home) - [Home Ownership (30)](https://blog.homesandland.com/tag/home-ownership) - [Articles (21)](https://blog.homesandland.com/tag/articles) - [Featured (20)](https://blog.homesandland.com/tag/featured) - [Renting a Home (12)](https://blog.homesandland.com/tag/renting-a-home) - [The buying journey (11)](https://blog.homesandland.com/tag/buying-journey) - [Building a home (10)](https://blog.homesandland.com/tag/building-a-home) - [For Agents (10)](https://blog.homesandland.com/tag/for-agents) - [Home Improvement (8)](https://blog.homesandland.com/tag/home-improvement) - [Home Values, Credit & Mortgage (8)](https://blog.homesandland.com/tag/credit-and-mortgage) - [Interior Design (8)](https://blog.homesandland.com/tag/interior-design) - [Landscaping and Gardening (5)](https://blog.homesandland.com/tag/landscaping-and-gardening) - [The selling journey (5)](https://blog.homesandland.com/tag/the-selling-journey) - [real estate agent (5)](https://blog.homesandland.com/tag/real-estate-agent) - [Loans (4)](https://blog.homesandland.com/tag/loans) - [real estate (4)](https://blog.homesandland.com/tag/real-estate) - [Blog Posts (3)](https://blog.homesandland.com/tag/blog-posts) - [Credit (3)](https://blog.homesandland.com/tag/credit) - [Financing (3)](https://blog.homesandland.com/tag/financing) - [Mortgages (3)](https://blog.homesandland.com/tag/mortgages) - [architecture (3)](https://blog.homesandland.com/tag/architecture) - [Housing Market (2)](https://blog.homesandland.com/tag/housing-market) - [Taxes (2)](https://blog.homesandland.com/tag/taxes) - [home buying journey (2)](https://blog.homesandland.com/tag/home-buying-journey) - [Company News (1)](https://blog.homesandland.com/tag/company-news) - [Foreclosures (1)](https://blog.homesandland.com/tag/foreclosures) - [Infographics (1)](https://blog.homesandland.com/tag/infographics) - [Negotiations (1)](https://blog.homesandland.com/tag/negotiations) - [Videos (1)](https://blog.homesandland.com/tag/videos) See all - Helpful Links and Resources: - [GET HELP From a real estate professional](https://www.homesandland.com/agents) - [VIEW Digital Magazines](https://www.homesandland.com/magazine) - [ORDER Homes & Land](https://www.homesandland.com/magazine) - [RESEARCH Local Mortgage Rates](https://www.homesandland.com/mortgage) - [ADVERTISE In Homes & Land](https://advertise.homesandland.com/advertise) #### [![real estate infographics](https://blog.homesandland.com/hubfs/Homes_And_Land_October2018%20Theme/Images/finger.png) Interactive Infographics - Home Improvement - Real Estate](https://blog.homesandland.com/tag/infographics) ## SIGN UP FOR EMAIL UPDATES ## Recently Added ## [How a Realtor Makes Home Buying Easier](https://blog.homesandland.com/how-a-realtor-makes-home-buying-easier) Buying a home is one of the most significant financial decisions you’ll ever make, but the process can be overwhelming. 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