Buying a home is a big decision to make, and can have an impact on a variety of areas of your life. Here are our top 7 best suggestions to consider before committing to a purchase.
1) Before you buy, strengthen your credits score
Remember, higher credit scores will have lower down and monthly payments. This can represent tens of thousands of dollars in savings over the course of a mortgage.
2) Determine how much home you can afford
Buy housing that runs about two-and-one-half times your annual salary. Prior to looking at homes, speak with a reputable loan originator who can pre-qualify you.
3) Know where you want to be
Think about your lifestyle and how it is now. How will it be in five to ten years? Will the location or property you are interested in still be adequate in that timeframe?
4) Don’t buy if you can’t stay put
If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet.
5) Carefully review your offers and counter-offers
Make sure you understand all facets of the offer to purchase, and any counter offers you may receive from a seller. Speak with your buyer’s agent about any questions you have.
6) Get a home inspection
A home inspector will provide you with a detailed report of the property condition and outline repair recommendations. Get this ordered early so you have time to carefully review the condition of the home prior to removing contingencies.
7) Make sure you love your buyer’s agent
A great buyers agent can take the stress out of a home purchase. The goal is to ensure you find the perfect property, get the best possible deal, and enjoy a worry-free experience for the entirety of your purchase transaction.