4 things you must do before house hunting
Author: spencer   December 20, 2018

Are you excited to buy your first home? We know the answer already, yes! Buying your first home is an exciting time, but there are a few things that you must get in order before house hunting. Searching for the perfect house can be a time-consuming process. Working with a real estate agent will help simplify that process, but still, you must prepare before taking that first step.

Four things you must do before house hunting:

  1. Work on your credit.
  2. Get pre-approved.
  3. Decide on what you need in your future home.
  4. Work on your savings.

Work on your credit.

Did you know that not having your credit in order or not even knowing your credit score can hurt you when it comes to applying for a loan? Your credit score determines what type of loan you can get, the interest rate on that loan, and even determines your monthly payment. If you are unsure of where you stand, take the next year to be aware of your credit score and work on paying down your current debt. Doing so will ensure that you are able to get the best loan for you.

Get pre-approved.

In a seller’s market, where houses don’t stay up for very long it is crucial that you get pre-approved from your lender before stepping foot in a house. Being pre-approved will ensure that the seller takes your offer seriously when up against other buyers. You don’t want to lose a house you could afford just because you didn’t get pre-approved. Doing so will also let you see how much house you can afford and how much you are comfortable with so that you don’t end up being “house poor.”

Decide on what you need in your future home.

Sitting down with a pen and paper before you start really looking for your future home to decide on what you “need” is a great first step. Why? This way it will ensure that you aren’t walking into a home that doesn’t fit what you need. This will also ensure that you don’t buy a house that you will regret later. The things you need should not change based on what homes are available at a certain time. It’s important to be patient because the house of your dreams could be listed tomorrow.

Work on your savings.

Where is your cash going? It’s important when buying a house that you have more money than what is needed for a down payment and closing costs. Why? Because when becoming a homeowner it is important that you have an emergency fund to help pay your mortgage if something were to happen with your job. This emergency fund can also help pay for things that come up such as problems with your furnace, roof, etc.

If you are ready to start looking for the home of your dreams, contact us today!