Homeownership is usually in the plans for everyone at some point in their life. It is a major life accomplishment to own your first home. Buying your first home typically starts a new chapter in your life whether it be a stamp of independence, planting roots for a new family, or simply getting away from the difficulties of constantly renting, moving, and dealing with landlords. Making the decision to move towards home ownership can be difficult, but the team at Captain Home Finder would be more than delighted to help you along your journey! Below are 21 hints that you may be ready to buy your first home!

Things are looking up at work

Buying your first home is no joke, especially financially! You want to be sure that you have stable, constant, verifiable income before taking on your first mortgage payment. Some amazing signs at work that you are ready for home ownership are:

1. You got your first career job out of college

Typically, most recent grads forgo home ownership a couple years and decide to rent, but I know of some (including myself) that jumped right into home ownership. If you just graduated college, got a job at a great, secure company, and like the idea of homeownership over renting by all means keep that option open!

2. You just had an amazing annual review

Love your job? Your job and employer loves you too? Getting great feedback from an annual review is a solid indicator of future success and you are on a path towards growth! Growth at work can also translate into growth personally, a la home ownership.

3. You just got a promotion

Recently got a fatter wallet? Been saving away those bonuses and salary increases? You can use a portion of it for a down payment on a new home!

4. You feel stable and comfortable at work

Maybe you see yourself sticking with your current job or company for the long term? One great plan for the future is to investigate home ownership in a community you like with a great commute to your job!

You found a community you want to put your roots in

Do you find yourself running around Lake Calhoun on a beautiful summer evening and say to yourself, “Wow, I never want to leave this city!”? Perhaps, you fell in love with a great yoga community and want to stay close to new friends and hobbies. Thoughts like these are hints that you might be interested in looking into a more permanent living situation!

5. You love the city you live in

“Never want to leave!”, “I always want to live here!”, or “Man… I love this place!” if you continually are saying something like this out loud or to yourself, you are ready to look into home ownership.

6. You are active in a local community or group

Do you have a community, group, or hobby you could see yourself doing for years and years into the future? Want to live close by? Buying your first home in a nearby community is a great solution to keeping active with your neighborhood!

Big changes on the family and relationship front

Did you just have a big change in your personal life? Most first time home purchasers are looking to buy a home together with their significant other to solidify their relationship. The stability and commitment of purchasing a home together can be a great first step to building your “ever after”!

7. You recently got engaged

What is a better engagement gift to each other than looking for a new home together? Being engaged is a huge commitment and buying a home together can be a great choice as it feels more long-lasting than renting.

8. You are a newlywed

How many married couples do you know that rent over owning? Not very many I would assume (unless you live in Downtown Minneapolis)! The most traditional path after marriage is to settle down and buy a home together to prepare for the future.

9. You have recent or upcoming additions to your family

Do you have a little one on the way? Need more bedrooms and space? More people and the need for more space are huge hints home ownership is in your future!

10. You want to get a new pet

There are almost no pet restrictions when buying a new home (you still need to abide by city, local government, and neighborhood ordinances), but long gone are the days of pet deposits and restrictions! Owning a home is typically more convenient for pet lovers — Hello, backyard!

Let Captain Home Finder guide you on your journey to buying your first home!

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Sick and tired of renting

Just finished your 3rd move in the last 5 years? Done waiting 2 weeks for the landlord to fix the broken washer and dryer? Home ownership means you’re the boss and you are in a more planted living situation!

11. You are done dealing with landlords and paying rent

No need to comment much here. When you’re done, you’re done!

Watch a lot of HGTV

Find yourself watching House Hunters, Fixer Upper, and Property Brothers? Know that you definitely want to install some shiplap above the fireplace? Buying your first home gives you a clean slate to experiment all of your home improvement ideas on!

12. You have the desire to remodel a space in your home

Paint, remodeling the kitchen, changing the light fixtures, these are all freedoms you receive once you own your first property! No need to paint the walls back to their original white color when moving out either!

13. You enjoy home improvement projects

If you or your significant other have a knack for fixing or improving things — home ownership allows you to be creative and truly make a space your own!

14. You know exactly the type of home you want and how to style it

Have a list of the size, style, wants, and needs for a future home? Odds are you are ready to buy your first home!

15. You love landscaping

Life outside of renting usually means you will also own some land as well. This is great if you love landscaping — your yard is now your oyster!

You are a budgeting wizard

Living a second life as an accountant? Like to model out your expenses in a spreadsheet? Being a financially sound individual (or couple) is a hint you are ready for homeownership! As I mentioned before, buying a home is nothing to take lightly, you want to make sure you are ready to take on the financial responsibility.

16. You pay off monthly expenses without going in debt

Always paying your bills on time? Frugal with your credit card? Hint: your transition to homeownership will go smoothly — there will be plenty of bills and mortgage payments for you to stash away into a spreadsheet!

17. You know your money in and out flows

You may make a decent sum of money but if it is going out the door as fast as it’s coming in you could find yourself in some trouble. If you know your positive flows are greater than your negative flows, it’s full steam ahead!

18. You budget some of your money to savings or retirement

You are the type of person always planning years in advance financially. You like to contribute to your 401k. Another thing to plan for is homeownership!

19. You have savings stashed away for a down payment

There are definitely some upfront costs to purchasing a home — down payment, realtor fees, mortgage & title fees. If you have been keeping up on your savings and have solid cash balance you are ready to get that first home purchase under your belt!

20. You have a decent or better than average credit score

If you have a better than average credit score, that means you have been smart with your finances up to this point. Mortgage lenders and banks are more favorable to people in good financial situations. Credit score is a hint on your readiness to buy a home!

Responsibility doesn't scare you

Do you feel older than your age? Want more independence and freedom? Homeownership is a great responsibility, no doubt, but it can be very exciting and appealing to people that don’t shy away from some responsibility!

21. You feel mature enough to take on home ownership

Buying your first home is usually an indication that you are ready to settle into something more permanent. With added responsibility of homeownership comes the freedoms to do what you want with your space!