4 New Year’s Resolutions To Help You Buy A Home In 2018
Is a new home in the plans for 2018? One of the key factors to help you get into a home is planning. (We know, we know… Not a fun word at all!) But with good planning and resolve, you can make the whole process a little easier. So what should you include in your New Year’s resolutions to help with home buying?
Resolution #1 - Decide what you want in your new home.
And, honestly, this IS the fun part. What are you looking for? You’ll need to decide on the what, where, and when of your upcoming purchase. What type of house are you looking for? Are there neighborhoods you’re interested in? Maybe certain schools that you’d like to live close to?
This step should take a while. A new home is a serious financial commitment and you want to make sure that you’re choosing a new home that you can see yourself living in and enjoying for many years.
It can be helpful to write down your list from this resolution. You may need to pare it down a little bit after looking more closely at your finances or meeting with a realtor.
Resolution #2 - Make sure your finances are in order. And if they’re not, meet with a financial advisor or debt specialist who can guide you through any rough spots.
Some key points to look at here are:
- How much do you have available for a down payment?
- What is your monthly budget for a mortgage payment?
- Do you also have the closing costs and taxes in your savings?
- Do you know your credit score? (And, if it needs some work, do you know what you need to do?)
After you know these answers, meet with one (or more) lenders to look at your loan options, see what programs meet your needs, and how much you can afford. Make sure you get your pre-approval before beginning your actual house hunting efforts.
Special tip: If you are a first-time homebuyer, you may even be eligible for programs to help with your down payment and/or closing costs!
Resolution #3 - Pick a great realtor to work with.
Buying real estate, especially if this is your first time through this complicated process, can be very tricky. Find an expert who can answer all your questions, put your mind at east, and guide you through to your closing. If you need tips on how to select a realtor for you, please check out our blog post: Finding The Realtor For You.
Resolution #4 - Start shopping!
Okay, maybe this is the fun step then after all of that planning… You get to work with your realtor and start shopping for your new home!
Looking for more tips for homebuyers? Check out some of our other blog posts:
- Top 10 Ways To Tank The Closing On Your New Home
- A First Time Home Buyer And A New Job : A Guideline
- Do You Know What To Look For In An Initial Walk-Through?
- Things Buyers Do That Drive Realtors Bananas
- Checking For Property Damage Before Buying A Home
If you and your family are getting ready to start house-hunting for your new home, contact the Fairfield Team and we can help you!