Key signs signaling it's a great time to become a homeowner

by Claire Rainville 04/22/2024

Top signs why it's the perfect time to become a homeowner featured image

For many, the homebuying journey often starts with getting pre-approved for a mortgage. Once approved, a buyer has a mortgage can enter the real estate market with a budget in hand. 

Identifying key signs can help you decide if it’s the right time to secure a mortgage loan. 

You're ready to upgrade from an apartment to a home

If you're tired of paying rent, purchasing a property offers a viable alternative. With a mortgage in hand, you can budget out for the purchase of a home and get a better idea of the type of home you can afford. 

You feel good about your credit score

Having a good credit score is fundamental in regard to applying for a mortgage loan as it demonstrates your credit history. A good credit score improves your chances of being approved and can even open the door to more benefits such as lower interest rates.  

If you feel your score may need to be improved before applying for a mortgage, consider taking steps such as cutting down debt or getting added as an authorized user to a credit account. 

It's a buyer's market

In a buyer's market, there’s typically an abundance of desirable homes and a shortage of buyers. This means a homebuyer may be able to negotiate with more options to purchase a home they desire for a great deal.  

By reviewing this housing market data, you can differentiate a buyer's market from a seller's market and determine whether it’s the ideal time for you to apply for a mortgage. You can do so by searching your local MLS for listing information in the area you wish to purchase a home. 

By acknowledging your housing goals, financial standing and doing real estate market research, you can determine if now is the right time for you to apply for a mortgage loan.

About the Author

Claire Rainville

I have been conducting business in this local area for 20 years as a full-time real estate broker. My priority as a real estate broker is to ensure my client’s satisfaction through providing them top-class service specifically catered to their individual needs. As your agent, I will effectively communicate with other parties involved in your transaction to ensure the purchase or sale of your home/land/investment property goes smoothly. I use my high-touch philosophy and high-tech resources to attractively market my listings as a seller’s agent, and will proactively use my connections as an experienced real estate broker to find my clients’ their dream home. I am also available via phone, email or text messaging to accommodate my clients’ various schedules and/or preferred mode of communication.