Congratulations — it’s time to look into buying a home! When you are in the process of buying a home, before you start digging into things like square footage and special features, make sure that you have your other ducks in a row first. I love to work with clients who are in the process of buying a home and sharing in the exciting experience! If you are thinking about buying a home or have already started the process, let’s take a look at some of the things you need to do to get started.
- Step 1: Budgeting. The most important thing that you can possibly do when it comes to buying a home is budgeting. What kind of house do you want to buy? How much will it get you in your desired area? What features are wants and which ones are needs? A home payment, in general and including taxes and insurance, shouldn’t take up more than 25-30% of your take-home pay. Enjoy your purchase by carefully budgeting for a home!
- Step 2: Financing. Your next step needs to be getting financing secured before you go out shopping for homes. When you secure financing, it will directly correlate to Step 1, since you’ll be able to determine your interest rate, which can greatly affect your budget.
- Step 3. Shopping. Now that you have a range and an idea of what you want, now is the time to go shopping! Before shopping for home, however, start by shopping for a real estate agent like me in your area to get the right match.