Is Homeownership Right for Me?
Homeownership isn't right for everyone at every moment, but for most people it's worth serious consideration.
Here are some framing questions we recommend weighing as you think of whether homeownership may be the right choice for you.
Where are you now?
To begin, it may help you to compare your total estimated monthly ownership costs (mortgage principal and interest, property taxes, insurance, and maintenance) against what you're currently paying in rent (in a comparable home).
How long do you plan to stay?
Buying a home comes with upfront costs, such as closing costs or a down payment. If you expect to stay in the Portland area for a few years, those upfront costs will typically be offset by the equity you build and the stability you gain.
How long do you plan to stay?
Expert brokers will be happy to offer a free consultation to explore what a mortgage solution can look like for you. Some of the resources they may advise on include your current profile (and how you can strengthen it, if needed), as well as many first-time buyer programs and downpayment assistance funds.