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3 Steps For Before You Buy

Buying a Home

Most potential home buyers are overwhelmed by everything that comes with buying a home. The best way to relieve that anxiety is to be confident you’re purchasing the best home at a price you can afford.

By doing your homework before you buy, you’ll feel more at ease about your new home. These 5 steps will help you make smart decisions about your biggest purchase.

1. Decide How Much Home You Can Afford

Buying a HomeGenerally, you can afford a home priced two to three times your gross income. Remember to consider costs every homeowner must cover: property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care if you plan to have children.

2. Develop Your Home Wish List

Even before you go online searching for homes, be honest with yourself about which features you must have. Granite countertops and stainless steel appliances are in the bonus category; the proper schools are a must! Come up with your top five must-haves and top five wants to help you focus your search and make a logical, rather than emotional, choice when home shopping.

3. Talk To A Lender

LenderHave you saved enough money to qualify for a mortgage and cover your down payment? How much is enough? What does your credit need to look like to get a mortgage? What other costs should you expect before you close on your home?

A savvy home buyer will meet with a lender before they get serious about a purchase. A lender will help you to get ‘pre-qualified’ – a step most sellers want to see before they agree to do business with you. Pre-qualification is a letter that says how much house you’re qualified to buy.

I’m a Realtor. I handle one side of your transaction including showings, contracts, inspections and more. For the other side – find a reputable lender to help guide you on the financial aspects of a purchase. I will gladly recommend a few great mortgage brokers or will work with one of your choosing.

 

Are you ready to move forward with purchasing a home? Congrats! Let’s talk about your options and how we can make it all become a reality.

Contact Ryan

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