Buying A Home – Pierson Wealth Management

When people talk about the American Dream and what it means to them, buying a house is often near the top of the list. However, the responsibilities of owning a home can sometimes be overlooked: You’re not only buying the house but also committing to maintenance, as well.
Here are a few things to think about:
The Money
Whether you’re financially ready or just starting out, most questions about home ownership come down to money. Have you saved enough for a down payment? Can your budget accommodate a monthly mortgage? Is your income seasonal or steady? How’s your credit history?
The Time
The responsibilities of home ownership are considerable regardless of location. Ultimately, it’s a personal question of, “How much time and energy do I want to spend?”
The Research
Some of the information a homebuyer may want to gather can be categorized as “money considerations.” You’ll want to ask yourself: Are you pre-qualified or pre-approved by a lender? Remember, pre-qualification doesn’t require as much information and is only based on estimates, while pre-approval is based on more detailed income verification. This may be important as it gives you a measure of what you are able to buy.
When applying for a loan, be certain to understand your options. For example, some may find down payment assistance programs and grants for households with low- to moderate-income attractive.
The Search
The actual house-hunting can begin once the research is out of the way. While this may be the most fun part of the process for many, it can be both exhilarating and exhausting! Since this is such a big commitment, it will help if you clearly understand what you need from your house. For example, are you bringing family members, or will there need to be room for family members to come? How big is the yard, and what do you want to do with it?
Buying a home may be the largest purchase of your life. It’s a place where you and your loved ones can gather and enjoy your lives. I’m not a real estate expert, but I can speak to how a home fits into your overall personal finances. I encourage you to work closely with qualified professionals who can guide you through the process as you prepare to make one of the biggest purchases of your life.
Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500.