Purchasing a home is exciting. Once you've decided that you want to buy, you may be tempted to rush right into the realtor's office and start your search. However, to make sure the process goes smoothly and that you end up with the best home for your needs, there are a few things you should do before you even contact a real estate agent.
Check your credit score.
Look up your credit score through at least one of the three major credit reporting agencies. This way, you'll know if your score is good enough to get a good rate on a mortgage already, or if you'll need to work on improving it a bit before you buy. A FICO score of 740 or higher is considered very good. If yours is much below this, you may want to see a financial adviser about improving your credit before you seriously start house hunting.
Decide where you want to buy.
Different realtors have expertise in different neighborhoods. If you work with a realtor who is not as familiar with the area where you're buying, they may not know as much about the school district, what's nearby, and the selling prices of homes in that specific area. So before you pick your realtor, you should narrow down where you want to look for a home. Then, you'll be prepared to seek out realtors who sell a lot of homes in those specific areas.
Make a list of what you want.
One of the first things your realtor will do when you meet with them is ask you what you want in a home. The more specifics you can give them at this point, the more suitable the homes they show you will be. So make a detailed list of the things you need and want in a home, from the number of bedrooms to your preferred exterior material. Put a 1, 2, or 3 next to each item to indicate its importance. The most important items get a 1; those you kind of want get a 3.
Figure out how much you want to spend.
When you pre-apply for a mortgage, the bank will tell you how much they're willing to lend you. It's important to realize that this is not necessarily the amount you should spend. In most cases, it's best to spend less than the maximum they will lend you so there's some wiggle room left in your budget. Sit down and make a detailed monthly budget, and figure out from there how much you can afford to pay towards a mortgage each month without stretching yourself too thin.Share
17 January 2017
Do you absolutely adore your home, but are planning an upcoming move due to a career change? If you’re moving in the near future, you might desperately desire to sell your current home as soon as possible. To help you accomplish this important task, consider hiring an experienced, real estate agent in your community. This individual can help you select the perfect selling price for your house. Your real estate agent can also provide valuable information about staging your home to perfection. For instance, to make your home more inviting, your real estate agent might suggest you purchase new bedding, window treatments, and artwork. On this blog, I hope you will discover how a real estate agent can help you sell your home fast. Enjoy!