Top 5 Signs You Can Already Afford to Buy Your Own House

It’s not unusual for long time apartment dwellers to not think about buying a house. They don’t check real estate listings in Canada because they simply assume that they can’t afford a house.

You can determine if you’re ready to buy a house. Check out these signs:

You’ve checked your finances lately, and you realized that you’re done paying for your credit card debts, and you’ve paid off your car complete as well.

1. You’re debt-free.

Of course, it’s not always easy to pay off your credit cards. If you’re having trouble, then buying a house is still far away in your future. You need to develop a fiscal responsibility first!

It’s not always easy to determine if your job is steady, but there are ways you can tell.

2. Your job is secure.

You’ll need that job security when you’re paying your monthly mortgage payments. It also helps if you have your own business, and if your small business is enjoying steady growth.

 A good rule of thumb when you first get a job is that you should set aside at least 10% of your income into your savings account.

3. There’s a nice chunk of cash in your bank account. 

If you have enough in your bank account for a year’s worth of monthly bills (such as groceries and utilities), then it’s a good sign. 

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