Finding Your Next House
Are you currently considering finding a new home? Are you ready for the challenges that lay ahead? Purchasing a home is always an exciting and stressful time, and it is certainly one of the biggest life events you will ever experience. Getting it right is important, which is why this guide was developed to help you start off on the right track, ultimately leading to a smooth purchase of the home of your dreams.
Before you ever step foot inside a house and consider purchasing it, do a little research into the neighborhoods you would like to live in. Make sure they offer the things that are important to your family. How are the schools? Is the crime rate low? Do you have easy access to shopping and restaurants? How is the commute to your workplace? Can the kids ride their bikes safely on the sidewalks? Can you walk your dog with ease? While not all of these things will be important to you, consider what is, and make sure to look for neighborhoods that truly meet your needs.
When considering what you are looking for in a neighborhood, plan for both now and later. While schools might not be on your radar right now because you do not have children, consider if that is in your game plan within the next few years. If it is, make schools a priority. Also consider things like if you are nearing retirement age or may have to bring an elderly relative to live with you in the next few years. You don't want to find the home of your dreams only to have to move again in two or three years, so always make sure to look into the future a bit in order to find what you really want in a home.
After narrowing your search to a few neighborhoods, consider your budget. Meet with a mortgage broker, consider your own comfort level when it comes to a monthly mortgage amount and down payment, and stick to your game plan. By knowing what you are comfortable spending, you won't bother looking at homes that are far out of reach for you financially. This can help to reduce your stress level each month, making your home buying, and owning, experience a happier one.
In addition to figuring out your mortgage budget, take the time to get pre-approved for a loan. The pre-approval process will tell you how much the bank is willing to lend you based on your income, current debt and credit score. A letter will be provided to you with this information. The pre-approval letter can be a great bargaining tool to use when you submit an offer to a seller. It lets them know you have your finances in order, making you a more credible buyer.
Buying a home takes time and consideration, but the process can be made easier with some sound advice. Use the advice you have received here to help you make an educated buying decision that your family can be happy with.
