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Do you think you are financially fit to buy a house this year? Homeownership is a dream for most Americans. However, not everyone can really afford to own their house. Here’s the thing. Buying a house is one of the most expensive purchases that you will make. It costs hundreds of thousands. Most likely, you do not have that cash lying around. You will have to borrow money before you can buy a house. That means you have to apply for a very expensive loan. This mortgage is something that you have to pay off in the next 3 decades. Are you sure that you are up for the challenge? More than anything, you have to be financially prepared to take on this huge transaction. Failing to pay back this loan can ruin your financial future. You do not want to subject your future self through the stress associated with the inability to pay off your loan. It is actually quite heartbreaking to live in a house for a couple of years - only to lose it because you cannot afford to pay off the mortgage anymore. Before you buy a house, you have to make sure go through the necessary steps to prepare for it. According to Realtor.com, buyers have to move quickly if they want to secure their dream home. This year, the competition among buyers is quite high. If you find the house that is perfect for your lifestyle and will meet your requirements, you have to be prepared to buy it immediately. To do that, you have to be financially fit before you start looking for a house.