Searching new homes for your family can be an intimidating process. Here are
three tips to streamline this endeavor and to help make your experience a
pleasant one.
Get your financial house in order
Your credit score plays a key role in the mortgage-approval process. It pays
to take a good look at your credit reports and correct any errors before you
begin searching for a new home. A clean financial record and a high score will
help ensure you get the best possible interest rate and loan terms.
Pay down debt and don’t incur any new debt before you shop for a home as
mortgage terms are based on debt-to-income ratios.
Create a household budget and include categories such as repairs and
maintenance and decorating for your new situation.
Get pre-qualified
When you get pre-qualified, you don’t have to guess how much house you can
afford. You can hone in on the details of finding your dream home. You also
boost your bargaining power considerably. Whom do you think the seller is going
to favor, the buyer who says he has the money or the one who can prove it?
Enjoy the buyer’s agent advantage
A traditional real estate agent looks out for the seller, not the home buyer. A
Buyer’s Agent works for you, and only you. He has no vested interest. You can
lean on your Buyer’s Agent when you have any questions about the home-buying
process. They can help you find a lender, answer questions about neighborhoods
and school systems, and take you all the way through the new home-buying
process from presenting floor plans to sitting next to you at closing to
joining you at your final walkthrough and beyond. You’ll never have to question
your Buyer’s Agent’s loyalty.