Advice for Future Ranch or Property Buyers

When it comes to making the big decisions in life, timing is everything. As buying a ranch or property is likely to be the largest and most expensive investment you will ever make, it can be difficult to know when really is the right time to take your first steps or move a few rungs up on the property ladder. Is there really such a thing as a ‘good’ time to buy a house?

While it would be great if there was a sign from above that would provide the reassurance that we need to make a property purchase, realistically the decision to buy or not to buy comes down to assessing two primary factors and seeing if they line up to create the window of opportunity you need to acquire your dream ranch or property.

So, what factors do you need to consider?

Finances

For most people, the biggest influence on their decision to buy stems from whether or not the numbers stack up in their favor.

Down Payment

Most ranch or property buyers need a mortgage in order to make their property purchase. However, to show that you are serious about your commitment, mortgage lenders almost always require a reasonable down payment, with standard loans requiring a 20% deposit against them. However, the requirements for a down payment do vary from lender to lender. There are also a variety of down payment assistance programs available, so it is always worth checking your eligibility.

Credit Score

When you apply for a mortgage your lender will base a large percentage of their decision on the health of your credit score. Your credit score is an indicator of how reliably you have paid off past debts, and therefore how high the lenders risk is if they choose to offer you a loan.

Buyers with a good credit score are not only more likely to have their application accepted, but they are also generally offered mortgages at better interest rates.

Monthly repayments

It goes without saying that in order to buy – and retain – your new ranch or property, you need to be able to keep up with the monthly repayments. If you haven’t owned a ranch or property before then there will be additional expenses that you might not be used to paying each month, such as buildings insurance, or community taxes if your ranch or property is in a gated development or complex. Don’t forget to allow a little extra to put away for any repairs you may need to make too.

The housing market condition in your area

Housing markets vary across states, cities and even neighborhoods, so doing your research into the market for the area you wish to move to is essential. This is where using the services of a great real estate agent can be invaluable, as they will understand both the location and the way that the market changes within it.

This means that they will be able to advise you what you should expect to pay, how much you can expect to pay in taxes and fees for that area, and what potential repair costs could be if there is a lot of work that needs doing to the property you choose. They can also talk to you about demand and supply in the vicinity of your chosen location, which will affect how quickly you need to be able to move to secure your property.

All of this information will help you to determine whether or not it is the right time to buy in the neighborhood of your choice.


Only you can make the decision as to whether it is the right time to make a property purchase. By putting yourself in the best financial position possible, you can be ready to grasp the opportunity to buy the perfect ranch or property as soon as it arises.