How’s your financial health?

You should be looking at your savings because a down payment is a  considerable amount of money and there will be other expenses during the buying process like closing costs and upfront costs. You should also have an emergency fund (lenders will require it). You should also review your spending habits, doing this can help you to see how much money you can allocate to a mortgage payment. Checking your credit is really important because to qualify for a home loan you’ll need good credit.

Which type of home will best suit your needs?

When purchasing a residential property you have a lot of options: a traditional single-family home, a duplex, a townhouse, a condo, a co-operative, or a multi-family building with two to four units. Each one has its pros and cons, but deciding what type of property you want is one of the most important steps in the homebuying process.

Which specific features do you want your ideal home to have?

For most people buying a home is the biggest purchase of their entire life, so having a list of the features that you want in a home is very important. Your list can include basic desires like the size of the home or style of the home, all the way down to smaller details like the layout of the kids’ rooms, or the type of flooring in the house.

How much mortgage do you qualify for?

Before you even start shopping, it is important to get an idea of how much a lender will give you to purchase a home. You can figure this out when you get preapproved for a loan. Some sellers won’t even entertain an offer that’s not accompanied by a mortgage preapproval.

How much can you actually afford?

Sometimes the loan you qualify for is more house than you even want to pay for, just because you can get a large loan does not mean you should. Some people make the mistake of buying an expensive home not actually thinking about other monthly costs this leads them to be “house-poor.” This essentially means that they are left with very little money after their monthly mortgage payment. So, think about other costs like property taxes, homeowners insurance, what it will take to maintain the house, etc.  

Who will help you find a home and guide you through the purchase?

This is where we come in, our real estate agents can help you through this sometimes difficult process. Our job is to make this home buying process easy for you and allowing you to experience the joy and excitement of buying a home. You can choose your agent today!