Every homebuyer - especially first-time homebuyers (my favorite!) - need a starting point for their home search. With this in mind, I have put together FIVE Tips to get you started on your search:
1) Get your credit in shape. If you plan to finance your home purchase, check your credit history, especially if you’re a first-time buyer. That way, you can correct any errors, and take measures to boost your credit score. Order one free credit report a year from Annualcreditreport.com.
2) Get pre-approved for a mortgage. As the first step to your search, talk to a mortgage lender who will take a look at your credit history, your savings and investment statements and your current financial situation, and give you a better picture of what you can afford and the financing options available.
3) Establish your budget. Whether you’re financing your purchase or paying cash, it helps to establish a budget. This will help you focus your search on great homes within your price range.
4) Make a list. Buying a home is a process of elimination, not a process of selection. Make a list of your ideal home’s must haves and deal breakers. This will help you to narrow your search so that you can find a home that fits your current and future needs.
5) Think about resale. The average homeowner lives in their home for nine years*. While you may purchase your home as a long-term investment, keep in mind that you may need to sell it one day. Consider the homes resale value when you’re looking at properties.
If you have questions about buying a home or investment property, contact me today via email or at (619) 209-9953.
krista bell, REALTOR®
*Source: NAR Profile of Home Buyers and Sellers