The home buying process tends to be an experience that is “learn as you go,” but that doesn’t mean you can’t be prepared to the best of your ability! Here are some do’s and don’ts to keep in mind when you get ready to buy a new home.
Do: Know Your Credit Score
Before you even start to look at homes, you need to be sure your credit is in a position to qualify for a mortgage. Your credit score is one of the largest factors in determining not only how much of a loan you qualify for, but what type of loan and interest rate. Contact your Realtor prior to speaking with a loan officer so that they may assist you in finding out your true credit score.
Don’t: Forget to Include Closing Costs in Your Budget
Most prospective home buyers forget about closing costs when they determine their budget. Most closing costs typically amount to 3%-4% of the home’s purchase price and include the home’s appraisal, lender fees, title company fees and pre-paid costs. There are cases where all closing costs will be paid by the seller or builder in a transaction, but it is always best to save in the event that option is not available.
Do: Have Some Patience
Patience is a virtue when it comes to finding your perfect home. Remember, you don’t have to settle and buy the first house you see. A home is a big commitment and while you may be excited to take this next step, don’t rush it!
Don’t: Be Nitpicky
Yes, you want to buy a home that is perfect for you. But being too nitpicky can get in your way of finding the perfect house simply because a home is meant to be customized. Small cosmetic details like wallpaper, paint color, fixtures, moldings, cabinets, and tile can all be changed and shouldn’t get in the way of putting in an offer on a home you really love. If the structure or layout is good, always consider that home as an option.
As you can see, buying a home requires you to make a ton of different decisions. That’s why we’re here to help, so
contact Kay Harris today and we’ll help you make the decisions you need when finding your dream home.