By Summer Knight
2025 President
Santa Barbara Association of Realtors
Buying a home is one of the biggest financial commitments you’ll ever make. It’s
exciting, but it can also feel overwhelming, especially if you aren’t sure whether you’re
financially ready to take that next step.
As REALTORS®, we believe in helping you make informed, confident decisions. That
means making sure you understand your finances and your rights before you begin your
home search.
Start by taking an honest look at your financial picture. Review your income, monthly
expenses, debt, savings, and credit score. Small steps like paying bills on time, lowering
credit card balances, and avoiding new debt can make a big difference in improving your
financial standing. You might also be surprised to learn that you don’t always need a
large down payment. Many first-time buyers qualify for government backed loans or local
assistance programs that reduce upfront costs.
Wondering if student loans or other debt disqualify you from homeownership? They
don’t. What lenders care most about is your debt-to-income ratio—how much you owe
each month compared to what you earn. A qualified lender or housing counselor can
help you understand what you can afford.
It’s also important to remember that housing is a right protected by law. The Fair Housing
Act ensures you cannot be discriminated against based on race, color, national origin,
religion, sex (including sexual orientation and gender identity), disability, or familial
status. If you ever feel you’ve been treated unfairly, you can report it to your local fair
housing agency or HUD.
REALTORS® are held to the highest ethical standards and are dedicated to promoting
fairness, accessibility, and opportunity in housing. We are also working at the local,
state, and national levels to address housing shortages and make homeownership more
achievable for everyone.
Owning a home doesn’t stop with the keys. From budgeting for property taxes and
maintenance to planning for future expenses, responsible homeownership is a lifelong
journey. Luckily, resources like housing counselors and post-purchase education
programs can help you stay on track.
To learn more about preparing for homeownership, understanding your rights, and
finding trusted resources, visit facts.realtor. And when you’re ready to start your search,
work with a REALTOR®—your partner in achieving the dream of homeownership.
Summer Knight is a Santa Barbara native and top producing Realtor at Sun Coast Real Estate. Summer has been a member of the Santa Barbara Association of Realtors for over 20 years and currently serves as the President of the Board of Directors. Reach Summer at 805-886-1261 or [email protected].
Related Posts
You must be logged in to post a comment.