Replied by Realcom
on Sunday, November 25 2012, 07:30 PM
Hello Mr. Otieno
I will make some suggestions however, there are some questions I'd need to ask you before giving a detailed answer.
It seems the questions that remains is:-
a. whether or not now is the right time to buy another house,
b. whether or not now is the right time to sell your house.
The professionals at Realcom have provided the following financial and lifestyle questions to consider when determining if buying another house is the right decision for you:
1. Do you have a steady income?
A steady income can provide a strong backbone for the initial down payment and future mortgage, but there are numerous factors beyond straight economics that also need to be considered.
Along with a financial planner, a real estate professional can help you answer and uncover questions at or near the top of every potential buyer’s mind.
2. Is the house you plan to sell free from mortgage payments? Where is it located? What period remains before the mortgage is complete?
A local real estate professional can help you understand current local market conditions and will help you make smart decisions when listing a home on the market.
Even with lenders becoming increasingly more thorough in their approval process, mortgage financing is still widely available for those with an asset, steady income and solid credit.