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Have a question? Give me a call at 213-254-7626, or you can click my photo for more options to call or email and I will contact you right away.

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Ready to Buy a Home? Ask Yourself These Questions First

Ready to Buy a Home - Ask Yourself These Questions First

If you’re pretty sure you’re ready to buy a loft or condo in DTLA, here’s what you need to ask yourself first.

Ready to Buy a Home? Ask Yourself These Questions First

  • Is there enough money in my bank account?
  • How much debt do I have?
  • How long do I plan to stay in my current job?

Is there enough money in my bank account?

You don’t necessarily need 20 percent down to buy a house, but you do usually need some money. The one exception is if you’re using a VA loan, which doesn’t require you to put any money down. However, you’ll also need money for closing costs, which add up to between 2 and 5 percent of the home’s purchase price, and monthly mortgage payments, repairs and utilities.

How much debt do I have?

If you have a lot of debt, now might not be the right time to buy a house. Owning a home can be expensive. And you shouldn’t spend more than 30 percent of your monthly salary on your house. Lenders look at those amounts when they’re deciding whether to let you borrow to buy, as well as deciding what interest rates you qualify for.

How long do I plan to stay in my current job?

If you have a lot of longevity, you’re good – but if you haven’t been in your current job long and it’s not looking like you’ll be there forever, you might want to hold off until you find something more permanent. It’s really important, because if you have to move for a new job soon, you’ll probably need to sell – and you could take a loss if you sell without building much equity.

Are You Buying a Loft or Condo in DTLA?

Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.

While you’re here, check out our:

  • DTLA Arts District lofts for sale
  • Historic Core lofts for sale
  • DTLA Little Tokyo lofts for sale
  • Bunker Hill lofts for sale
  • City West lofts for sale
  • South Park lofts for sale
  • Fashion District lofts for sale
  • Financial District lofts for sale

Posted in: Blog, Buyers Tagged: Buying a Home, Debt, Job, Money, Savings

Search Smarter!

Did you know the hottest Downtown Los Angeles Lofts often sell within days of being listed? Don’t miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

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As a local Downtown LA Real Estate Agent I also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me at your convenience. There is no obligation and or pressure… I hope to hear from you!

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Randelle Green
Have a question? Give me a call at 213-254-7626, or you can click my photo for more options to call or email and I will contact you right away.

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Downtown Broker/Realtor Randelle Green

Barker Block Sales (Over $10.5m SOLD) *6 Yr Personal Sales Totals!!

Veteran DTLA Broker Randelle Green’s personal sales totals (representing Sellers and Buyers) in less than 6 years at the renowned Barker Block (The King of The Arts District). Leading the way through one of Downtown’s most impressive and popular warehouse loft complexes. Looking to Buy or Sell, you know who to call! The RandelleGreen Group……I […]

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Downtown LA Lofts & Condos

213-254-7626
green@therandellegreengroup.com

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The RandelleGreen Group

Downtown LA Lofts and Condos

213-254-7626
green@therandellegreengroup.com

Downtown LA Lofts & Condos
Los Angeles, Ca 90015

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