Can I Really Own a Home?

For many, owning a home is part of the American dream, although it may seem like a dream that will never come true.

But, it doesn't have to be that way. By learning to manage your money through developing a savings plan, living within your means and using credit wisely—you can achieve your dream of owning a house.

It won't happen overnight, but it can happen if you focus on your goal and take the steps to achieve it.

If you can answer "yes" to the following questions, you may be ready to buy a house.

  1. Do I have a steady source of income such as a job?
  2. Have I been employed on a regular basis for the last two years?
  3. Is my current income reliable?
  4. Do I have few outstanding long-term debts such as car loans?
  5. Do I have a good record of paying my bills?
  6. Do I have money saved for a down payment?
  7. Do I have the ability to pay a mortgage and the additional costs of owning a home?

There are advantages and disadvantages to buying a home. Only you can know if it's the right move for you at this time.

Take a look at Am I Ready to Own a Home? for help evaluating whether the time is right for you to buy a home. The Homeowners' Overview gives you a good idea of what to expect when you own a home.

Your Housing Options: Tips for Homeowners

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