Buying a home is one of the biggest purchases you can make as a couple or individual. It can feel scary, but there are a few things you should do when it comes to buying a home. Don’t worry- they are all pretty easy and will help you in the long run!
Educate Yourself - Speak with friends and family who have purchased a home recently (last 6 months) to better understand their experience. If you can, get a recommendation of a great real estate agent that they can refer you to. A great agent can connect you with vetted lenders who can share with you a variety of lending options that might work best for you. The buying process can move a lot quicker than you think and you have to make a very big decision within a few hours. If you do your homework, have the right team in place, and understand the various steps of the process, you’ll feel more confident on the decision no matter what happens. Another good point is looking for programs that make it easier for you to afford a home, your lender can help you with this! Examples of this include FHA loans that offer 3.5% down, VA loans that can be as low as 0%, or loans offering lower down payments for buyer education courses.
Budget - When it comes to buying a home, it can be easy to think you can afford the biggest and the best. Your bottom line is actually more about what you are truly comfortable and what you can truly afford rather than what a lender will give you. Sometimes these numbers can be surprisingly different. Have a long hard talk about what monthly mortgage amount feels comfortable (including taxes, insurance, etc) and never go above that number. Of course with a very competitive market and multiple offers being presented (sometimes even a bidding war) it can be tempting to spend more than you really should. Really take a good hard look at your numbers so you don’t get in over your head, you want to make sure you have a buffer for when house projects inevitably come up.
Wish List - The home of your dreams may not be the first home you purchase. That being said, it’s good to have a top 5 wish list items that you don’t want to settle on when it comes to purchasing your home. This can be anything from a two car garage, 4 bedrooms, or an open concept. Think of all of these “must have” items when looking at home. Also understand that certain non-negotiables may prolong the purchasing process.
Look At Credit Score - Did you know that without having a healthy credit score it can be extremely difficult to qualify to meet most mortgage loans? Having a high score can earn a lower interest rate which, besides saving thousands of dollars over the life of your loan, helps you qualify for a larger loan. Having a little extra can come in handy when the market is hot. Credit scores between the range of 670-740 are generally considered good. A score of 800 or above on the same range is considered to be excellent. Don’t be disheartened if your credit is only “okay”, speak with your lender about your options.
Hiring Professionals For The Big Day - When it comes to the big day, you want to be able to breathe, take notice of how your family is doing and be able to be in the moment if you can. How can you do that? Hire professionals to help you do the heavy lifting, the packing and the moving to give you breathing room. One such company is called Gameday Moving Services Houston. These professionals can work their magic folding and taking care of your items, but they also can move long or short distances. These labor only movers in Houston, Texas are there to help turn what can be a stressful process into an easy experience every time. Moving shouldn’t be stressful (even though it can be)!. In order to help yourself and save yourself a headache, hire trustworthy moving companies such as this one, to assist you.
Image: Gameday Moving Services Houston
Hopefully, these home buying tips will help you through a huge step in your life! This is such an exciting time for you, your family, and your future, so you want to make sure your decision is one that you are excited about, affordable and will be happy for years to come!