Homeownership is an important financial goal for many Americans. Although renting provides flexibility, there's nothing quite like owning a home. You can call your own. So how do you know when the time is right to start looking at Boise homes for sale? Our REALTORS® share some important factors to consider before you dive into buying a home.

1. Your credit is in good shape.
   Getting your debt and finances in shape before applying for a mortgage is vital. The higher your credit score, the easier it will be to get a mortgage with a low-interest rate. If your credit score is low, you may not qualify for a loan at all. Lenders also look at your debt-to-income ratio, or DTI, which involves adding up all monthly debts then dividing them by your gross monthly income. The lower your DTI ratio, the better.
2. You've saved enough for a down payment.
   There are plenty of home loan programs that require much less than the traditional 20 percent down. Some FHA loans require just 3.5 percent down, and government loans such as those guaranteed by the US Department of Veteran's affairs require no down payment. Shop around and look for loan programs to see which one will best fit your needs. Make sure you also have enough set aside for closing costs.
3. Your rent keeps going up.
   It can be discouraging to put your hard-earned money toward someone else's mortgage every month. With rental housing costs skyrocketing in recent years, more and more people are looking to homeownership. While you must take into account additional costs, your monthly mortgage payment may fall below what you're paying for rent right now.
4. Your income has increased.
   If you've recently gotten a significant raise or a new job, now may be the perfect time to make a change. Homeownership is rewarding, but make sure you have the needed resources to keep your home maintained, make unexpected repairs and other payments.
5. You find a great deal.
   If you find a good deal on a home that you love, you should consider buying, but don't let your emotions or excitement get in the way. Whether it's a foreclosure, short sale or someone who wants to sell ASAP, seek the advice of an experienced REALTOR® and get a home inspection before you make any commitments. If a deal seems too good to be true, it usually is, so choose carefully.
6. You're ready to settle down.
   Whether you're single or have a growing family, if you know you want to stay in one place for a while, buying a home is typically a solid financial investment in your future. If you want your kids to live in a specific community or attend a particular school district, owning a home can provide stability, as you won't need to worry about your lease being renewed or rent going up.

Are you ready to take the leap and find the Boise home of your dreams? Our experienced professionals can help you understand how the home buying process works and help you leave the renting life behind. Contact us to get started.