Happy New Year! New Years bring new resolutions. Have you resolved to buy a home this year? If so, this is for you! Here are 3 things you need to do NOW if you plan on purchasing a home in 2018:
- Talk to a local lender. Get pre-approved. The lender will ask you for a ton of information and pull your credit, then they can discuss with you what loan programs would be best for your situation, discuss down payment need (or not needed!), closing cost preparation, budget and price point for your home search. They can help you adjust your budget in regards to also paying taxes/HOA fees. A local lender should come highly recommended and you can shop around for the best lender for you. Need a recommendation? Contact us!
- Create a monthly budget and a needs/wants list. What can you afford to spend monthly on a mortgage with your other financial commitments? Sometimes your pre-approved amount doesn’t equate what you want or need to spend monthly. Focusing on the monthly payment instead of the larger “home price” will set you up for success in home ownership. Also, create a list of your needs and wants. Do you need a garage or workshop to work out of? Do you need an extra room for a home office? Do you want space for a garden or a walk out basement? Creating this list and understanding what you need versus what you want in a home can help narrow down your search
- Contact us! Or another REALTOR you trust. We would be honored to represent you in purchasing a home, whether a new build or a resale. Having an agent on your side is beneficial in many ways. They negotiate your best interest, educate you on the current market trends and advocate for you until you have the keys in your hand! Want to know how we can help you further? Email firstname.lastname@example.org. We are licensed in Maryland under Allison James Estates and Homes.