Blog January 26, 2016

What Age Should I Be Before Buying a House?

At Windermere Real Estate in Fort Collins, we've encountered this question quite a few times. Recent college graduates or newlyweds that are ready to become more independent often wonder if they're old enough to be homeowners. While there's no way to set an exact age when you're ready to buy a home, there are a couple of questions to consider that can help with your decision.

The first question is, "Am I going to stay put for at least a few years?" If you're wanting to travel and see the world, or you know you'll be gone for work most of the time, it might make more sense to continue renting for a few years. If you and your spouse know that you're ready to settle down and start a family, or that you'll at least be in Northern Colorado for the foreseeable future, looking at homes to buy may be a good option.

The second question is, "Will I have regular pay increases at my job?" If you're able to save for a down payment, and continue working while you pay off your mortgage, it can make sense to buy a home now rather than later. What will also help is if there is room for advancement at your current job. If you can receive regular raises while your mortgage payment stays the same, you'll be able to stay on top of your finances and not have to worry about falling behind on paying off your new home.

Windermere is here to answer all of your real estate questions, no matter what they are. If you feel that you're ready to buy a home in the Fort Collins area, contact us today!