Are you ready to buy your first home? Buying your first home can be an exciting adventure, but you’ll want to make sure you’re fully prepared for the responsibilities that come along with taking on this major step in your life! With the right preparations, buying a home can be a fun and seamless experience.
HERE ARE THE STEPS FIRST TIME HOMEBUYERS SHOULD TAKE:
1. REVIEW YOUR FINANCES
Make sure you are where you want to be financially before you start your home search. If you need to get your credit score in order, now is the time! Try not to stretch your income too far as it can become a financial burden. It is essential that your finances are in check before you fall in love with a home, so make sure you know it’s the right time to buy.
2. GET WITH A NAN AND COMPANY PROPERTIES AGENT
You need an experienced and knowledgeable real estate agent who will work hard for you. Our team of experts will take the time to get to know and discover what it is you're really looking for in a home. We'll help you make guided and educated decisions that will ensure a happy and successful home buying experience.
3. GET A MORTGAGE PRE-APPROVAL
Your Nan and Company Properties agent will connect you with a lender, who will let you know how much you can actually afford. The lender will assess your credit score and the amount you can qualify for on a loan. It is recommended that your overall debt does not exceed 40% of your income, and housing debt should not exceed 32%.
4. ASSES YOUR WANTS AND YOUR NEEDS (WHAT'S IMPORTANT TO YOU)
Decide ahead of time what your ideal must-haves in your next home should include.
Consider as many details as you can, such as what neighborhood you’d like to be in, what school districts appeal to you, number of bedrooms, proximity to work, etc. Before you visit properties, make a list of your needs and a separate list for your wants. Bring this list with you when you view a home and judge the home by this checklist. Later, you can go over the pros and cons of the home which will help keep you on track.
From consulting to moving day, we’ll be there to assist you with the fun and complex process of buying your first home. Whenever you’re ready, contact us to learn more about how we can help you buy your first home!