Buying a home when you have bad credit takes a little more work. You should consider what you can really afford before looking for a home. Check out the market in the area you want to buy. Find out what price houses are going for and what the payments are per month. Remember that you may end up paying a little more per month than someone with a conventional bank loan, so keep that in mind as you figure out what you can afford.

You are going to have to work harder to find a home you can get without a loan which means you may have to shop around more. Prioritize your needs. You should make a list of what housing needs you have. Do you have to have three bedrooms or can you make do with less? Do you have to have a two-car garage or will a carport do? Do you have to have a single story home for health reasons? Do need to be close to a school?

You should also make a “Wants List”. You might want a pool, a hot tub, a walk-in closet, wooden floors, a deck, etc. Of course, it would be good if you can have a home with your wants, but you should first focus on your needs. Additions can always be made for your home in the future.

You should also compost a third list, where you put down all the things you don’t want in a home.

In your situation, it’s always best not to be too picky. Maybe a small house will do for now until you save enough for a bigger one. When that time comes, you’ll have more choices.

Repairing your financial situation will not be so difficult if you know how to be flexible and make sound decisions. Always be rational!

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