Home Buying Preparation 101

1. Work to get Your Financial Details in Order before You Go house hunting, buying a home is a big commitment. Before you even start looking, make sure that you do the necessary financial prep work. Start by getting your financial statements in order, most importantly your proof income documents (pay stubs, bank statements, taxes etc.).

2. Know your credit score by contacting all three major credit bureaus. If your credit score is not at least a 600, you will have a hard time, so consider working hard to improve your credit score before you go shopping for loans.

3. Know How Much House You Can Afford, get pre-qualified for your home loan. This ensures that you will have the financing in place when you find that perfect home. Contact a mortgage professional, such as a loan officer at your local bank, Call a few lenders up to get a sense whats being offered out there.

4. Decide What Your Perfect Home will be like. Write it down on paper; don’t worry about what you cannot afford, just brainstorm what your perfect home would be like and where it’s located. How many stories do you prefer? Know the number of bedrooms and bathrooms you want or need. Is an attached garage or master on the main a deal breaker? Do you want or need a formal dining room, does your family room need to be open and off the kitchen area? What size of yard do you want? What amenities do you want? How old would your ideal home be? Now, separate the ‘must haves’ and the ‘preferences’  This will keep you on track during your search. It may seem like a lot of preparatory work, just keep in mind that a home purchase is a major investment!

5. Remember to contact a licensed Realtor in your area, Realtor is a trademarked term for residential and commercial real estate professionals who belong to the National Association of Realtors. Realtors abide by a National Code of Ethics. Licensed real estate professionals play an important role in helping buyers and property owners in all aspects of purchasing and selling property.

For more information contact me, ATLREALTORCHIC@gmail.com !

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