Are You Financially Ready to Buy a Home?

FINANCE

Steven Miller

6 Min Quiz

How much credit card debt do you currently have?

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What is your current credit score?

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How long have you been at your current job?

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What is your best guess on what your income will be like one year from now?

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How steady is your job?

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What percentage of your income goes towards housing currently?

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How much money do you currently have saved?

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How comfortable are you in being able to afford an unexpected major house repair?

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How long do you plan to stay in the location where you want to buy a house?

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Once you pay your mortgage, will you have enough to still afford things you enjoy?

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Do you have a sense of how much of a house payment you can afford?

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Do you have a pre-approval letter from a bank?

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Do you know the benefits of having a buyer's agent?

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How much online research have you done into houses in your price range in your area?

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How many open houses have you attended in the last year?

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Have you checked your credit report and cleaned up any errors?

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What do you pay when you make your monthly credit card payment?

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What career level would you say you are at in your work?

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What percentage of your monthly income are you planning to devote to your new house?

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How much have you saved for retirement?

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Do you have health insurance?

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How much do you know about home inspections?

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What are the chances that you might have to relocate in the next five years?

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Have you consulted with a mortgage or financial expert regarding buying a home?

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How comfortable would you say you are financially right now?

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How willing are you to compromise on your dream house to have it be affordable?

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How open are you to listening to advice from the professionals helping you?

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How will you choose your buyer's agent?

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How do you feel about taking on a house in need of a lot of repairs?

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How much time will you have for ongoing upkeep of your home?

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Image: Shutterstock

About This Quiz

Buying a home is one of the single biggest investments a person will make in their life. Take this quiz to determine if you're financially ready to sign on the dotted line.

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