Once you’ve sold your current house, should you buy or sell? That depends on how healthy your finances and credit are.
Sell Your Tampa House Fast – Tampa Bay FL: Have you been in a quandary about what you will do after you sell your house? Many sellers are in the same position. There are the great, low prices and decent interest rates. There are almost endless choices of homes on the market. But the dilemma might be in the fact that you came close to default on the house you own now and that has been the reason you have to sell.
Have you been in a quandary about what you will do after you sell your house? Many sellers are in the same position. There are the great, low prices and decent interest rates.
The particulars of your situation will be what drive your decision. If you haven’t gotten behind in your other bills and don’t have a lot of outstanding debt but simply knew that it would become too expensive to keep up your current house payments, you may be able to buy another house when you have sold your current one. As long as your debt hasn’t risen, you have kept up on payments, and therefore have a decent credit score and a down payment, it might be a great idea to buy again. You can get a lot of house for the money these days. You already know what ownership entails in opposition to what it takes to rent a house. You know what you’ll be facing if you buy again and perhaps you’ll make a good decision and buy well within your means comfortably.
When you are selling because you have already, or are about to, start missing payments on the house, your other debts are behind, your credit cards are maxed out, and you have reached your limit when it comes to financial stress, it would be better to rent for awhile. You can take a breath and make a plan to move forward. Include a savings account in which to put aside money for a down payment if there is extra income. Get your debt in order and catch up on payments in which you are behind. Pay off what you can until your income well exceeds your expenses.
- You already know what ownership entails in opposition to what it takes to rent a house.
- You know what you’ll be facing if you buy again and perhaps you’ll make a good decision and buy well within your means comfortably.
- When you are selling because you have already, or are about to, start missing payments on the house, your other debts are behind, your credit cards are maxed out, and you have reached your limit when it comes to financial stress, it would be better to rent for awhile.
With a better credit score and a decent down payment, you will be better able to qualify for a bank loan on your next house, that will be lower in interest rate and that can make all the difference in the world. Many don’t realize that the better your credit, the lower your interest rate, and in turn, your monthly payments are lower and more manageable. You’ll be paying far less for the same house than if you try to buy with questionable credit.
