Buying a house is a very important decision in your life and it is, most likely, the biggest financial asset you will acquire. This process will definitely need a thorough consideration and family brainstorming before you make this serious step of purchasing the place of your own.
Here are 3 points of consideration before buying a house:
- Get your finances in check.
Use online ‘home affordability’ calculator to figure out how much you can afford. Record your monthly expenses including loans, insurance, credit card debt, etc. Credit history, additional assets, job stability and income, – all these factors are taken into account.
How much of a downpayment do you have ? How much more your expenses will go up monthly if you buy a house? (Don’t think only mortgage payments, include home insurance, utilities, ongoing home improvement costs, second car loan, etc..). When you analyze how healthy your financial situation is, it will become clear what kind of home you can afford.
- Get a mortgage preapproval.
After you are done with your online calculations, go and see a lender to get an official mortgage preapproval. It will save you tons of time, and most importantly, preapproval will bring you a piece of mind to know exactly how much you can afford. You can narrow or broaden your search and target your price range without disappointment of seeing the homes for 700K, being preapproved only for 450K. Do yourself a favor and make your life easier.
- Get a Real Estate Sales Representative
It is crucial that you hire a Real Estate professional that matches your personal style and listens to your needs. He should be patient and considerate when choosing the house that will be your home and show you as many properties as you might find necessary till it hits the spot.
Ask your friends for referrals, check the websites and reviews online, interview several agents to choose the best fit for you. Then, it is easy. Together you will discuss the details of potential neighbourhoods, house features, etc, etc.
Now you are all set for an exciting journey of buying the place that soon you will call HOME.
Purchasing a house is a very emotional venture, and if you are considering to buy your own place this year, do not hesitate to call us.
We will make sure that you will enjoy not only the result, but the process of choosing the home itself.
Call the Nikolay and Tatiana Team at 647-833-3287