Deciding to Buy
Buying a house is probably the largest purchase you will ever make, so before we go look at anything it helps to be clear about why you are doing it.
Why you want to buy
The reasons we hear are fairly ordinary. People are tired of paying rent, or they have outgrown the place they are in, or they want a bigger yard, a shorter commute or a different part of town. A lot of our buyers are moving to Bellingham from somewhere else. Some want a rental, or a second property as an investment.
Any of those is a fine reason. It helps to know which one is yours, because it decides what we go looking for. Somebody who wants to walk to work downtown is shopping a different map than somebody who wants a few acres out in the county, and a rental gets judged on different things than a house you plan to stay in. Expect Derek to ask about this before he asks how many bedrooms you need.
Whether the money works
Nobody can promise you that a house will make money. Owning can build equity over time, and it can also cost more than renting for the first few years once you add up closing costs, maintenance, insurance and property taxes. Whether it makes sense for you depends on your income, how long you expect to stay, and what else you would do with the cash.
Those are questions for a lender, and for a CPA or financial advisor if your situation is complicated. We can tell you what houses sell for around here and what the older ones usually need. What you can comfortably afford is a conversation to have with a lender, early.
Next is getting your finances ready.