Blog

Selling your home or farm is a major milestone, and while the process can feel overwhelming, having the right guidance makes all the difference. Our team is here to do more than just list your home or farm—we help you prepare it for sale so you can attract the right buyers and maximize your return. So, what’s your biggest concern when it comes to selling? Whether it’s knowing where to start, deciding on the best upgrades, or making your home shine, we’ve got you covered. Here are our top 5 tips for selling your home: Price with Your Head, Not Your Heart Setting the right price is critical. While it’s natural to have emotional attachments to your home, buyers will focus on market value. A competitive price attracts more interest and can even lead to multiple offers. Trust our team’s expertise to price your home strategically based on the latest market trends. Even if you’re not in the market to sell any time soon, it’s always nice to know what value your property holds! Clean and Declutter A clean, clutter-free home leaves a great first impression. Clear countertops, organize storage spaces, and deep-clean everything. Buyers want to envision themselves living in the space, and too much clutter can distract them from seeing your home’s potential. Depersonalize While your family photos and unique decor make your house a home, they can also make it harder for buyers to picture themselves living there. Consider neutralizing your space by removing personal items and opting for simple, inviting decor. Invest in Quality Photos In today’s digital world, the first showing often happens online. High-quality, professional photography is non-negotiable. That’s why we include FREE professional photography (and aerial shots when applicable!) with every listing. These images showcase your home’s best features and grab buyers’ attention. Stage It Like a Designer Staging highlights your home’s best assets and helps buyers imagine themselves living there. Whether it’s rearranging furniture, adding a few decorative touches, or creating a cozy ambiance, staging can make all the difference in how your home is perceived. Ready to Start? Not sure which improvements will get you the best bang for your buck? Need referrals to trusted contractors in your area? Or maybe you’re feeling overwhelmed with where to begin? That’s where we come in. Our team is here to guide you every step of the way. With our proven strategies and expert resources, we’ll make the process of selling your home as smooth and stress-free as possible. Contact us today to learn how we can help you achieve your goals. Let’s make your home-selling experience a success!

Got back into the work week by starting off the morning showing 2 cute farmettes in Parkton and Phoenix to a wonderful couple. They inspired me to compile some “House Hunting Basics” – sometimes we get caught up in the emotion of the process, or the house in front of us, or the competitiveness of the market and feel pressured, and lose the greater context of what’s really happening with the home search. 10 things to keep in mind when house shopping:  Don’t let high interest rates discourage you from buying. If you need to move, move. As we have seen over the last few years, things fluctuate and change. Stay savvy (and have an agent watching out for you well after the home purchase is complete) and jump on a good rate when the time is right. A good realtor will give you their REAL opinion on if a house smells or not, and if that smell is fixable. Maryland and South-Central PA are rapidly changing, developing areas. Check out what’s going in and around the area you’re looking in, and make sure the direction the town is headed is still where you’d want to be in 5-10 years! Ask your realtor to check land records for recent purchases or development permits for surrounding land/neighborhoods! You can ALWAYS change the inside of a house, but you can’t change where it is located and the amount of land it has. Don’t settle for less space than you think you need, unless you have a real plan for adding more space. When a home DOESN’T have 10 offers in 2 days, drive through the neighborhood at night or on a weekend. Go during rush hour, put your windows down, and listen for road noise. Do the neighbors look like they like to throw down? Drive by on Saturday night. Do your reconnaissance in multiple ways! Just because it looks like mold, doesn’t mean it is mold. And just because someone tells you it ISN’T mold? It could definitely be mold. The best time to see a house is during rain or after a storm! No surprises about where the water goes – because water always wins I always like to give my clients privacy in the home, even if I just go to a different floor for part of the showing. I want them to have time to talk, dream, envision (or even complain!) – do whatever is needed to make the process theirs. Take the time you need, and if you don’t feel you’re getting it, speak up! Ask ALL of the questions, and never feel bad about asking more! Good realtors are super sleuths and we will get you the info you need – no matter how random! As always, don’t hesitate if you have any questions or real estate needs! We would love to help.

Questions I get about buying a house for the first time: “I don’t know anything about buying a house.” – that’s OK! It is our job to educate you and refer you to lender, inspector, and title partners who only want to educate you as well. We don’t expect you to know ANYTHING and are happy to answer questions and guide you through the process all day long. “How much does it cost me to use you as an agent?” – commissions are almost always paid by the seller of the home you are buying, so besides an administrative fee to an agent’s brokerage, you do not typically need to come out of pocket for anything other than the fee for using a buyer’s agent! “How much does it cost to buy a house?” – typically, you can use 3% of the purchase price as an estimate for what your closing costs (in addition to your down payment, if applicable) will be. So, if you are buying a $350,000 home, you can expect your closing costs to be about $10,500 (this includes lenders fees, title company fees, transfer taxes, and more!) “What do I need to do first to start looking?” – talk to an agent to get you started. Talk to a GOOD lender to get prequalified and determine your budget. And one of the biggest things that helps jump start the process? Go look at houses! Whether with your agent or going to Open Houses, going to physically see homes will help narrow down your criteria for your dream home and put you in the right headspace for your search. “What if I have bad credit?” – did you know that we provide SO many buyers with access to our lender partners who will help guide you through your credit score, guide you on what actions will have the biggest impact on your score the most quickly, and exactly what you need to do to get your score to where it needs to be to purchase a home? Ready to take the next step towards home ownership? I’m happy to have the conversation with you and answer ALL your questions. Call/text me!

We hear it all the time – Clients would rather wait for spring to sell their home than list during the winter. Of course, we respect everyone’s personal timeline AND agree that moving in January isn’t always as fun as moving in April. However, there are some serious benefits to listing in the Winter, particularly THIS winter. Let’s dive into three compelling reasons why selling this winter could be your best decision. Low Inventory = Less Competition Winter typically sees fewer homes on the market, creating a prime opportunity for sellers. With there being less homes on the market, the buyers have been competitive in writing their offers. What does this mean for you as a seller? The chances of you getting offers for top dollar compared to what you listed your home for are higher than normal. Buyer demand is outweighing the supply, therefore they’re willing to pay a little more for what they want. Winter Buyers Are Serious Buyers Spring and summer often attract casual house hunters who are browsing without urgency. Winter, however, is a different story. Buyers who are touring homes in colder months are typically highly motivated, whether due to job relocations, changes in family circumstances, or other time-sensitive needs. With fewer “window shoppers,” your chances of securing a serious, ready-to-act buyer increase. Streamlined Transactions Lenders, appraisers, and other professionals involved in the home-selling process tend to have lighter workloads in the winter. This means fewer delays and a smoother, more efficient transaction process compared to the busier spring and summer months. Ready to Explore Your Options? If you’ve been considering selling your home, don’t wait for the snow to melt—take advantage of the unique opportunities winter offers. Contact us today for a no-obligation market analysis and personalized strategy to help you achieve your real estate goals.

When purchasing or selling a property, it is always a good idea to work with a professional, especially when it comes to the largest financial asset you own. Realtors can do everything from getting you the best price, showing you the most amount of homes, educating you on the marketing and informing you on important information regarding the contracts. So why should you work with a realtor? They will get you the best price Whether you are buying or selling a home, a realtor will likely get you the best price. When selling a home, a realtor will do a comparative market analysis, so you will know the top market value of your home and not sell for less than what it is worth. They will also be able to inform you on what upgrades need to be done and where to put your money in terms of renovations and repairs. They will help you in staging the property, have the property professionally photographed, marketed and ready to be put up for sale. This will in turn get you the most amount of buyers which will get you the highest offer. If you are purchasing a property, a realtor will be able to look at what has sold in the area, factor in any differences and come to the market value of the property you are looking at. They will also be able to go over a home inspection with you so you will know if there are any major repairs that need to be done or any deficiencies with the property. This all will make sure you do not overpay for a home because you didn’t know what to look for. They know of more properties If you are looking to purchase a home, realtors may have access to more properties than you do. They themselves or someone in their brokerage may have access to exclusive listings that are not on the market. They may also have access to properties that are about to go up for sale, so you might get access to first viewings. They will also be able to show you different areas and types of homes from resale to new build, detached to condominiums so you can explore all options. In turn, you will have access to more properties than you would doing the search alone. They can negotiate for you When it comes to negotiation, a realtor will have more leeway. They likely have negotiated many times on getting the best price for a property in the past, so will have strong negotiating skills that will work to your benefit. They will also have access to past sales in the area which will aid in their negotiation on your offer. And negotiating yourself, with no past experience and no comparable sales will not likely get you the price you want. They are knowledgeable There is a lot to know about the real estate market, from clauses to closing to taxes and lawyers and everything in between. If you do not have a qualified professional with you, you might make mistakes that could cost you a substantial amount of money in the long run. Conclusion Using a realtor is not an added service when it comes to purchasing real estate, it should be a mandatory one. When buying or selling you will want to get the best price, getting either top dollar for the home you are selling or the best price on the one you are buying. From everything to home inspections to getting the keys, a realtor will be there to answer all of your questions and make sure the process goes as smoothly as possible.

It can be heartbreaking to find a home you love, submit an offer, and have it rejected! Especially in a competitive market where there are multiple offers on many homes, it can be frustrating. However, sometimes sellers reject offers and it just isn’t clear why, especially if you are perhaps the only offer. Here are some reasons why a seller might reject your offer that might not be immediately clear. One of the biggest (and unfortunate) things to remember as a buyer is that a seller does not have to accept ANY offer, even if it is above asking price, waives inspections, and is the best offer you think you could have put together. At the end of the day it IS the seller’s decision, and they can accept (or not accept!) any offer, any time. Sometimes, netting as much as possible is more important to the seller than your type of financing, if you’re doing inspections or not, or how long your contract period is. Some sellers want to close as soon as possible and would rather make less money to do so, Make sure your agent is taking their time to create a relationship with the listing agent and find out what is important to the seller so you can structure your offer accordingly. Some tips to make sure your offer has the best chance of getting accepted? Offer list price or above, especially in competitive markets! Unless a home has been sitting stagnant on the market, sellers are not likely to accept an offer below asking. They have no reason to take less in just a few days or even weeks. Keep your contingencies to a minimum – this includes being strategic about home sale contingencies, inspections, asking for seller help/credits, etc. Keep your timeline for settlement appealing to the seller depending on their needs, including a rent back/post settlement occupancy agreement, or whether they need a fast or extended closing. Sometimes, sellers reject offers and it has nothing to do with you. As we always try to remember in real estate, agents are in place for a reason, and we don’t always know what is going on “on the other side”. Make sure that you have an amazing lender and agent behind you so that at the end of the day, you know you’ve put your best foot forward with an offer you’re comfortable with. We have lots of tricks up our sleeve as to small ways to make offers more appealing to sellers, and we would love to share them with you! Reach out to us ANY time for a buyer consultation and we can share some of our magic with you!

Did you know 49% of homeowners saw equity gains they weren’t expecting when remodeling their home? Not only do home improvement projects enhance your living space but they can also add significant value to your property. With countless options available, it's essential to focus on projects that offer the highest return on investment. While transforming a bathroom into a spa-like space may sound appealing, the cost may not pay for itself when it comes time to sell. Conversely, investing in refinishing hardwood floors or updating the countertops in your kitchen is likely to increase a home's value, even if these projects may not evoke the same sense of luxury or upgrade. Here are the top five home improvement recommendations that will not only revitalize your space but also provide the best bang for your buck: Refinishing Hardwood Floors: There's something timeless and elegant about hardwood floors, but over time, they can lose their luster. Refinishing your hardwood floors is a cost-effective way to breathe new life into your home. Whether you're tackling scratches, stains, or simply want to update the finish, refinishing hardwood floors can instantly elevate the ambiance of any room. Plus, with proper maintenance, your newly refinished floors will continue to impress for years to come. Moreover, refinishing hardwood floors can add value to your home. Potential buyers are often attracted to homes with well-maintained hardwood floors, and refinishing them can make your property more appealing on the real estate market whenever you look to sell. According to the National Association of Realtors’ Remodeling Impact Report of 2022, hardwood flooring refinish recoups 147% of its initial cost. Fresh Paint Throughout the Home: Paint is such a simple and cost-effective way to make a big impact in your home. Most gallons of paint cost anywhere from $20 to $60, depending on brand. Prioritize the most visible spaces and stick to neutral colors as much as possible for the best value for your money and resale potential while giving a bright new look to your living space. We have custom palettes we've designed for our clients over the years and update them annually with trending colors. Let us know if you have a certain space you need color and finish recommendations for!  Kitchen Upgrade: The kitchen is the heart of the home, and investing in upgrades can yield significant returns. From modernizing appliances to revamping cabinets and countertops, there are countless ways to enhance your kitchen's functionality and aesthetics. Consider opting for energy-efficient appliances, timeless finishes, and upgraded storage solutions to create a space that's both practical and visually appealing. A well-designed kitchen not only improves your daily living experience but also boosts your home's resale value. Converting/Building a Home Office: With remote work becoming increasingly prevalent, having a dedicated home office space is more important than ever. Whether you're converting an existing room or finishing an unfinished space, creating a functional home office can add a valuable, usable space for you while adding value to your home. Consider designs that create a space that inspires creativity and efficiency. A well-designed home office appeals to potential buyers seeking versatile living spaces and also need the ability to work from where they live.  Installing a Deck: Outdoor living spaces are becoming more popular with homebuyers. Adding a deck will increase your home’s usable outdoor space while also increasing the value of your property! Installing a deck is one of the most cost effective means of increasing the value of a property prior to putting it on the market, at a 76% return of investment. Check with your town to see if you need a permit, as some towns require one to install a deck. Our team has many contacts, including contractors that could help with these projects. We also are always available for complimentary walk throughs of your home to assess what projects will most benefit you AND add the most value for every dollar spent. This is a free service we provide to all of our clients, however we are always happy to give a consult! We work with hundreds of buyers and sellers every year and know what it takes to "make a match" - and that means meeting you where you are at with your home and providing you the best resources possible to achieve your financial goals with the sale.

With a never ending list of everything you ‘should do’ when purchasing a home, it seems counterproductive to focus on what you should not do. But being aware of the dont’s is just as important as the do’s, when it comes to making the biggest financial investment of your life. And knowing what not to do, just might land you better financing and the home of your dreams. It may seem obvious to not do certain things like switching your job or co-signing a loan, but did you ever think that depositing cash or financing a new piece of furniture could affect your ability to get a mortgage? As big as your ‘to do’ list is when purchasing a property, make sure you also have your ‘not to do’ list in close reach. Read on to make sure you are avoiding these common mistakes and what to be aware of before you make your first offer on a property. #1 Don’t overestimate what you can afford Before you even begin the search for that perfect property, it is essential that you get pre-approved. Looking for homes outside of your budget is a waste of your time and can wreak havoc on your emotions. And you will be disappointed if what you are pre-approved for is substantially less than what you thought. It is best to run the numbers yourself before meeting with a mortgage broker. Mortgage brokers will likely do a debt to loan ratio. Meaning, they take your monthly debt and divide it by your monthly income. Most mortgage brokers want to keep your debt to loan or DTI below 33%. So for example, if your debt is $1,500 a month (and debt accounts for debt obligations like car payments and student loans not bills like you cell phone or power bills) and you make $6,000 a month, your DTI is 25%. They will calculate your new monthly mortgage to make sure your overall DTI is below 33%. A great way to understand your own spending habits is to track them. There are a number of apps you can use like Mint or Itab that allows you to record your daily purchases. There is a section for you bills and you can calculate how much you are saving a month as well. Once you allot for things like taxes and vacations you will have a pretty good idea of where your money is going. Replace your rent or your current mortgage payment with a monthly mortgage payment you would feel comfortable with and make sure you are in that ballpark when getting a loan. You know your own lifestyle, if you like to travel and dine, then you may want to make sure you will have the disposable income that suits your own life. #2 Don’t get emotionally invested When you find that perfect home, it can be hard not to get emotionally attached. Depending on the time of year or the market you are in, there could be other offers on the property or things could go wrong like the home inspection and the offer could fall through. Go in the home buying process with high intention and low attachment. It will keep your spirits high when looking for that perfect place. #3 Don’t make any large purchases When you begin thinking about purchasing a home, make sure you avoid making any large purchases. Large purchases such as buying a new car, a new furniture set or a home entertainment center. Banks will look at your financial history and want to see any recent activity. The mortgage pre-approval you were given is based on how much money you had in your account and how much money you owed at the time you applied. If you make a large purchase and there is less money in your account, the less money the bank will be willing to lend you for your mortgage. As tempting as it is to envision furnishing a new property or parking your new car in the driveway of your dream home, hold off till you close on the property and are sure you can afford it. #4 Don’t take out or put in large amount of cash from your bank account Do not put in or take out large amounts of cash. The bank financing you will flag large deposits coming in because they may be loans from a bank or another lender. You in turn would have to pay back those loans on top of your mortgage, which would damage your loan to debt ratio. A parent or family member may have gifted you part of your down payment in which case they may need to sign a letter stating that the money was a gift and you will not be paying them back. If you did in fact have to pay them back, it would be added to your monthly debt. If you do happen to get a large sum of money from selling something like a car or if someone pays you money back that is owned, you may just have to prove it was from a legitimate source. Most lenders will look at up to 60 days worth of bank statements. It is best to get your documentation organized prior to applying for the mortgage and make sure you can account for any large withdrawals or deposits. #5 Don’t apply for more credit How much you will get to finance your house will come down to how much money you have saved and how much money you have coming in, or your capital. Any extra debt will decrease the amount you are approved for so adding anymore credit can greatly affect how much your loan will be. #6 Don’t co-sign a loan This may seem like common sense but if a friend or family member needs you to co-sign a mortgage then you might not think anything of it. But co-signing a loan can really effect your own chance of being able to get one. If they default on their mortgage then you are responsible for the payments, which in turn would affect your ability to make your own. In cases like these, it is best to protect your own financial interests. #7 Don’t finance anything Along with new home purchases comes new appliances, new furniture and maybe a new big screen TV. But financing anything when applying for a mortgage or prior to closing will do more harm than good. Stay clear of the temptation to get every last thing you need for a new home and focus on your ability to afford it in the first place. #8 Don’t switch a job, leave a job or start a company Your ability to show you are financially stable is the single biggest determinant in getting a mortgage. Quitting a job or switching jobs can aid in your potential risk to a lender that you are not in a good financial or stable position. If you are planning on applying for a new position or starting a company, it is best to do it once you have closed on the property. And of course, try not to get fired. #9 Don’t miss loan payments If you do have any loans you’re paying off, make sure you do not miss any payments. You likely haven’t missed any if you have good credit, but be extra cautious when applying for a mortgage. Sometimes they’re honest mistakes like having been away for work or on a trip for a substantial amount of time. Or maybe you were in the hospital or a family member was sick so you were not as on top of your bills. But having a 30 day missed payment can drop your credit by more than 100 points. So be sure to stay on top of your finances, especially when your credit score is crucial to your pre-approval. #10 Don’t switch banks I mean you likely don’t switch banks very often, but sometimes banks offer freebies like televisions sets or cash back when opening an account. It can be tempting, especially given the timing, but detrimental to a mortgage pre-approval. Stick with the bank you have now so you will be able to provide at least 60 days of transactions and bank account balances. It may seem minor but can make your life a lot more complicated than it needs to be if you switch your bank last minute. Conclusion The list may be longer than you expected, but you can easily avoid a number of problems by understanding what can affect your decision making and your ability to get financing when you are getting ready to purchase a new home. By getting your finances and documents in order prior to getting a pre-approval, and by getting a pre-approval prior to searching for a home, you will be well ahead of the game. And once you have the pre-approval, you will know everything not to do, so it is still effective on closing. And that’s it! Hold off on that new car, stick with the bank you’re with and stay on top of your bills. Mortgage pre-approvals can be stressful and time consuming but well worth the extra effort once you get the key to your dream home!

Spring is in the air! The days are getting longer, temperatures are warming up, and nature is coming back to life. As we shake off the last traces of winter, it’s the perfect time to give your home a little TLC. A few simple maintenance tasks can help prevent costly repairs down the road and keep your home in top shape for the season ahead. Here’s your go-to checklist for spring home maintenance! Inspect and Clean Your Gutters Winter storms and fallen debris can leave your gutters clogged, which can lead to water damage if left unchecked. Clean out leaves, twigs, and dirt to ensure water flows freely away from your home’s foundation. Check Your Roof for Damage Snow, ice, and wind can take a toll on your roof. Inspect it for missing or damaged shingles, and look for any signs of leaks. If anything looks concerning, schedule a professional inspection. Service Your HVAC System Before you start relying on your air conditioning, make sure it’s ready to handle the warmer months. Change the filters, clean the vents, and consider scheduling a professional tune-up to keep it running efficiently. Seal Windows and Doors Check for any drafts around windows and doors. Re-caulking or adding weather stripping can improve energy efficiency and keep those cool spring breezes outside where they belong. Check Outdoor Faucets and Sprinkler Systems If you turned off your outdoor water supply for winter, now is the time to turn it back on. Check for any leaks or damage to hoses, spigots, and sprinkler systems before you start watering your garden. Refresh Your Landscaping Spring is a great time to prune dead branches, clean up flower beds, and add fresh mulch. Take a walk around your yard and see what needs attention to get everything looking vibrant and ready for the season. Pressure Wash Your Exterior Dirt and grime can build up on your siding, deck, patio, and driveway over the winter months. A good pressure wash can instantly freshen up your home’s appearance and prevent long-term damage. Check Your Foundation Look for cracks or signs of water pooling near your foundation. Addressing small issues now can help prevent costly foundation repairs in the future. Clean Your Windows and Screens Let that beautiful spring sunshine in! Wash your windows inside and out, and clean or replace screens so you can enjoy the fresh air without the bugs. Test Smoke and Carbon Monoxide Detectors Safety first! Spring is a good reminder to test and replace batteries in your smoke and carbon monoxide detectors. These small devices play a big role in keeping your home and family safe. Bring Out and Inspect Outdoor Furniture As the weather warms up, it’s time to get your patio furniture ready. Wipe everything down, check for any damage, and make any necessary repairs so you can fully enjoy those sunny days. A little effort now goes a long way in keeping your home comfortable, safe, and looking great throughout the spring and summer months. Tackle these tasks early, and you’ll be all set to enjoy the season to the fullest!

Purchasing a home will inevitably be the biggest financial discussion of your life. And the decision as to whether it is the right time to purchase a home depends on a number of factors. And it is not just your finances. Although your finances are important, other things you should consider before putting in an offer are your age, the current real estate and mortgage market and of course where you see yourself in the future. So should you rent or purchase a home? Find out by asking yourself the following questions. What are your future plans? In the short term, renting is always cheaper. There are substantially less costs involved in renting, and normally just comprise of first and last months, a monthly hydro bill and maybe the actual expense to move. Where if you decide to purchase a home there are a number of costs involved. Even once you are able to save the deposit you will need to save an additional amount to pay the costs of purchasing. Other costs include land transfer taxes, lawyers fees and potentially closing costs. And once you do move in, your monthly bills will likely be more than if you were renting. It is best to calculate how long you plan to stay where you are. If you plan to stay indefinitely, then purchasing is your best decision. If you plan to stay for only a few years, then renting may be substantially cheaper. There are scenarios where this may not be the case. If you are purchasing in a large metropolitan city or in the surrounding areas of one, there is a chance that the market could go up substantially in a couple years time, in which case you would have made money. But no one knows for sure what the market is going to do, so it is best to take the risk you feel most comfortable with. How old are you? If you are still in your twenties you may end up relocating due to relationships or career opportunities. In which case renting would give you more flexibility than purchasing. If you are in your thirties and are in a longer term relationship and are more established in your career, then purchasing may be a better option. As well, most people spend their twenties saving so they can purchase in their thirties. But the sooner you know where you want to live and who you want to be with, the sooner you should purchase. How much does it really cost? There are a number of fees that come with home ownership. And as we have gone over a few already, it is best to run the numbers yourself so you have a better idea of how much it would cost to purchase vs rent. Fees to purchase include saving the deposit, which is usually about 20% of the purchase price of the home. Lawyers fees, land transfer fees, closing costs if the home your purchased is new build and moving expenses including moving trucks. You will have to furnish the new home, you may need to purchase window treatments and do any needed renovations or repairs. And of course, your carrying costs. With renting you normally just pay your landlord once a month and then possibly a hydro bill and or tenant insurance. But when you own a home you will have to pay your mortgage, property taxes, maintenance fees if it is a condominium and any additional bills like hydro and insurance. You will also need to put some money away on a monthly basis to save for future repair or maintenance of the home including replacing the roof or furnace. Depending on how much you have saved to put down on the property and how much rent is in the city, you would have to run the numbers yourself to see what makes sense. But make sure you consider the amount of buying vs renting in the long run and the costs associated with each. Are you in high interest debt? If you have car loans, credit card debt or any other debt that has a high interest rate, it may make more financial sense to pay that off and then save up for the deposit for a home. Buy taking out a mortgage when you are already in a substantial amount of debt, may be putting yourself in a worst financial situation. And the likelihood of getting a mortgage or a mortgage with a good interest rate, will be lower if you already have a number of loans. Take care of the debt you are in, and then sign off on the big mortgage loan. Do you have the deposit saved? If you do not have between 10% and 20% of the purchase price of the home saved then your monthly payments will be a substantially lot more. Putting down as much as you can will keep your carrying costs lower. As well, if you do not have at least 20% saved, you will likely have to insure your mortgage which can up your monthly payments. Assess your current savings, see how long it will take you to save a deposit, and start looking once you have it saved. Another option, if you feel comfortable, is asking your parents to lend you a certain percentage towards the price and paying them back a certain amount every month, so you can sooner get into the market. Run the numbers and know what makes the most sense for you. Is your job stable? How many years have you been in your job? Do you plan to stay in the field you are in? These are the types of questions you should be asking yourself when thinking about purchasing. If you are happy in your line of work, you plan to stay in the city you are in and you are confident that your job is stable, then purchasing is likely your best bet. But if you are in a line of work that involves contract, seasonal work or if you have just started your job or would consider moving somewhere else, then you should hold off on purchasing until you are more decisive. Conclusion It may seem like the obvious choice to build equity and bank in on future appreciation, but purchasing may not always be your best option. If you are just starting out in your career, have other debts, have not saved a sufficient deposit, are not established in your line of work or might consider moving, then you might want to consider renting until you are in a more stable and confident position about the future.