Four New Year Steps for Every Renter
Life is full of surprises. Don’t let the unexpected events of last year keep you from setting new year goals for 2021.
It’s time to look forward and decide on your priorities for the coming year. If owning a home is on your list, these four simple steps can help jump start your journey to homeownership.
1. Simple budget review
How much are you currently spending each month on rent and other housing related expenses, like utilities? What is that amount annually? Do you anticipate any rent increases?
Take a look at your other expenses too. You want to have a solid understanding of your monthly income and expenses. This exercise will keep you from jumping into a mortgage payment that stretches you and your family too far.
And, with homeownership comes home maintenance so it’s important to have a cushion for those necessary (and sometimes fun!) projects.
2. Check in on your credit
If you’re not familiar with your credit history, or need a refresher, you can request a free copy of your credit report every twelve months from each of the three reporting agencies.
After reviewing your credit, you may find you have some work to do. keep reading