Up to now, apartment living was fine with you. Things have changed and you’re thinking that buying your own place would be a good idea. You’ve even thought about something that’s zoned for business as well as residential use, something that would allow you to have a business on the bottom floor and living space on the second one. 

Take the following into account, and decide if you want to make this type of move. If you truly think now is the time, it’s worth the effort to see if you can be pre-approved for mortgages that fit in with your plans. 

Your Income is Sufficient to Support Homeowner Costs

Owing to job advancements and increases in pay, you’ve achieved a reasonable amount of financial stability. Evaluating your status confirms that you can manage a mortgage payment with relative ease. You can also manage opening utility accounts in your own name, covering the property taxes, and maintaining homeowners insurance without placing a lot of stress on your monthly budget. 

Being able to afford a home means that you can enjoy it more. There won’t be any constant worries about how to make the mortgage payment this month or having to scramble to pay the annual property taxes. With a solid plan in place that still allows you some room to tuck away some savings, you’ll do just fine. 

You Want More Control Over Your Living Space

Even with the best of landlords, there are limits on what you can do with an apartment. There may be restrictions on wall colors, and you can bet that the landlord doesn’t want you to make any structural changes. While that isn’t a problem most of the time, you have wanted to make the occasional change that was not in line with what the landlord required. 

Owning your own home means that you can make changes whenever you like. If you want to knock out a wall that’s not load bearing and create a more open feel, do it. Should you want to paint the walls in one room some sort of deeper color, go right ahead. You have complete control over what’s done when and as you like. 

You’ve Decided Where You Want to Live

For many people, the decision to buy a home comes about once there’s a decision about where to live. In a sense, the home represents something permanent. Even if there’s a chance that you might take a job elsewhere and decide to move in ten years from now, that home still represents something that’s solid and reliable. If you’re ready for that, it makes sense to start looking around. 

You’re Ready to Add Real Estate to Your Roster of Investments

Owning a home is an investment. In the best-case scenario, the property will appreciate in value over the years. At the very least, you should be able to recoup the purchase price when you sell the property after retiring and wanting to move to something smaller. In the meantime, you get to build equity that can be helpful later on instead of paying rent and improving the financial situation of someone else. 

Do consider if now is the right time to buy property. Whether you need to finance a home purchase or want to apply now for a commercial mortgage that would provide business as well as living space, there are lenders who are waiting to help. Choose wisely and the property will turn out to be one of the best decisions you ever made.