Buying a home is one of the largest investments you may ever make. In order to make your home hunting experience the best it can be, here are a few key items to keep in mind before you start your journey:
Get Pre-Qualified: One of the most important aspects of buying a home is the mortgage application and approval process. If you need a mortgage to complete the purchase, getting pre-qualified via a detailed review of your financial picture will determine the actual home price you can afford.
Set a Pre-Determined Budget and Planning: Setting, then following your pre-determined budget and staying within your means will set you up for success. Getting pre-qualified will help determine what you can afford, and will help you select the best mortgage options with your future goals in mind.
Hiring a Real Estate Agent: Realtors help negotiate the purchase price and other purchase terms such as timing and specific items included with your new home. They can also occasionally provide access to properties that may not be listed publicly. They understand the home buying process and guide you through from the first viewing to getting the keys to your new home in hand.
Property Features: Price and location should be higher priorities than aesthetic details such as paint color, flooring, or even outdated appliances or light fixtures, which can all be updated. Sometimes homes may only need a bit of imagination and a few minor updates to become your perfect space.
Think Ahead: What you look for in a house today could be very different from what will suit you in the future. Planning for a growing family or helping aging parents may factor. You can always sell your home later on if needed, but how that home may accommodate you later could increase a particular property’s appeal to you now.
If you are looking to purchase a new home, whether it be your first space, a step up, or you’re downsizing, I would be happy to help! Even if you’re in or nearing retirement, you may have an opportunity to leverage your home’s equity in the future tax free, which can preserve your investments and provide you savings on capital gains taxes. Please don’t hesitate to reach out to set up a virtual appointment to find out more. I am here to discuss your mortgage options, pre-qualifications and to help uncover what you need to know now before you make a move.
Adapted from DLC Marketing
Image Credit: Jonathan Borba Unsplash