If your New Year’s resolution for 2017 was to buy a home, there are five things you should start thinking about before you get ready to purchase.
- Manage your credit. You’ve got to know what’s included with your credit score and how to take care of it. If you have credit cards, pay them down to less than 50%. If you have auto loans, make sure you are making those payment early. Making payments three or four days before the due date will really help your credit score.
- Automate your down payment savings. A down payment isn’t the only cost you are going to incur. You are also going to need to pay for closing costs and any other fees that may pop up during the closing process such as inspections.
- Understand your real budget. You may be paying $1,200 or $1,500 a month for rent, which is great, but you really need to choose a budget where you feel comfortable going forward.
- Meet with a lender. There are a lot automated services out there, but I recommend going to a local lender because they understand the market and they really are there to help guide you through the home buying process. If you need help getting connected with a good, local lender, call me and I will hook you up.
- Get prepared to pounce. This market is very low on inventory, especially in our lower price ranges, and I don’t want you to miss out on your dream house. You may be surfing around the web looking at houses during the weekend, and that’s great! However, you need to be ready to make an offer when you see a home you want.
If you have any questions or if I can help you in any way, I’m only a phone call away. I look forward to hearing from you!