5 Tips on Buying a Home

Buying a home can become a stressful time whether it’s your first time or your 10th time. To help you get some perspective and maybe even help you streamline the process, check out these 5 tips on Buying a Home!

1. Get to know your credit. Your credit and credit score can really impact what and how you buy. It can effect mortgage and insurance rates as well as limit the kind of loans you can get. Before jumping in deep, do yourself a favor and take a peek at what’s going on in your credit. There are many free ways to get a glimpse at your score before taking that first step. Sites like creditkarma.com and even your credit car can give you a good idea without even doing a credit inquiry.
2. Know your budget. This may sound like a no-brainer but knowing your budget is a far larger item on this list than you would think. Are you a first time buyer? Are you putting money down or doing a zero down loan with no collateral? In some lending situations, you may be required to carry mortgage insurance or escrow. This can impact a payment in a big way. Make sure to talk with your lender ahead of looking at homes to make sure what you fall in love with falls within the budget.
3. Line up a lender and get pre-qualified. This is not a necessity for everyone but it can make getting the house you have been searching for that much easier quicker to obtain. Having a spending threshold and knowing what the budget looks like makes you more agile when deciding to put an offer in. It can be the competitive edge that sneaks you in for the win!
4. Understand your home buying needs. What do you need today? Does a one bedroom home with an office get the job done or do you need a four bedroom/three bathroom home with a big yard for the family and a dog? You may not have children now, but maybe you are planning on them in the future. Is a great school close by something to consider? HOA, gated communities, condo or apartments your thing? Low maintenance or fixer upper your thing? Make sure you consider your lifestyle and look for the amenities that fit your needs and wants.
5. Research the market before jumping in to buy. Check out your local community or the area where you want to live. How fast are houses selling? Does moving 5 minutes out of town open up a larger market for you to shop in? Are there certain community or home features that are must haves for you to even consider a property? Look at what is on the market and the styles and then start searching. Planning is key!

These are just a few quick tips to turn you into a home buying ninja. There are plenty more tips and tricks to keep you agile no matter if you are buying, selling or just maintaining your home. Make sure to stay tuned to the site for more upcoming exciting content!