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Wednesday, April 1, 2015

When Should You Buy a Home in Athens?

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 621-6085 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today we are excited to answer another one of your great questions. Our question comes from Sharon, who asks, "Should I wait until I've paid off all my consumer debt before buying a house?"

Honestly Sharon, in my opinion, it comes down to your financial philosophy. Some are conservative, some are liberal, and it depends on where you fit on that spectrum.

If you're a little more liberal, you can find the money and get a loan, sometimes with 100% financing. 
I will caution you, though, often times you can get a loan for much more than you really need or are comfortable paying. Use what you are comfortable with as a monthly payment as a guide.

If you are more on the conservative side like Dave Ramsey, the advice is always to do a 15-year mortgage, and always do a 20% down payment. It's a good way to get that mortgage knocked out quick and put you in the place where you won't have to write a check when it comes to closing.

I hope this advice helps you when it comes to deciding for yourself what course of action is best. If you have any questions at all, feel free to give me a call or send me an email, and I would be happy to answer them. We may even answer your question on our next video!