There’s no magic alarm that alerts you when it’s the right time for you and your family to buy a home. You Have the SavingsBefore you buy a home, you’ll have to prove to lenders you have the ability – and discipline – to save. It you can’t pony up a down payment of at least 10% (and ideally 20%) of a home’s worth, you aren’t ready to buy that home. If you have less than 20%, be prepared to pay private mortgage insurance as well. It's important to inquire about and account for closing costs, property taxes and homeowner’s insurance, as well as regular maintenance and repairs.

Source: Forbes October 17, 2017 17:53 UTC