CITY INSIGHT HOUSTON • May 03, 2019
Getting Ready To Buy A Home? Here Is Your Check List
You have looked at your numbers and decided it is about time that you buy yourself a home. Buying a home can seem like a stressful and complicated process. Knowing what to expect however, can ease the anxiety and help you confidently find the home you’ve been dreaming about. Listed below are a few tips to help future homeowners confidently find their new home.
- Check Your Credit
Have you been paying your bills on time? Do you owe anyone any money? What type of credit do you have? These are some of the questions you will need to answer in order to determine your credit score. A credit score of 580 or above should help determine what mortgage interest rate you can get. A poor credit score can bring about higher interest rates while a good score of about 720 gets you good mortgage rates.
- Can You Afford It?
Just because you are pre-approved for a big mortgage does not necessarily mean you can afford to pay it back every month. Use an affordability mortgage calculator to help you do the math and determine what you can actually afford. This is also the opportune time to start looking for homes for sale to give you a good idea of what your money can get you.
- A Real Estate Agent
Real estate agents act as lifelines throughout the whole home buying process. Go online and check out their reviews, meet with them and ask as many questions as you need to. They will be your main advocate as you start the journey to find your best. Get an agent who can best represent your interests as they will be contacting the seller’s agent to get you the best deal possible. Direct contact with the listing agent may not be a good option as the “average Joe” may not know all the in’s and out’s of the home buying process, while a Real Estate Agent will be well versed in all the tips and tricks that comes into play.
- Find Homes For Sale
Now that the lender has pre-approved your loan after taking a look at your credit information, you can start house hunting. If seeking to move around Houston, all you need to do is search “Houston homes for sale.” Identify what you’re looking for in a home, a price range and area. Share this information with your agent so they can help you get started on looking for the home of your dreams!
- Be Completely Sure
Do not make an offer on a home if your loan has not been pre-approved and if you know you are not ready to buy the home. Evaluate the home to ensure no unseen defects exist and if so, your Real Estate Agent will negotiate on your behalf to have them fixed. If you have children, confirm if kid-friendly features exist to make living easier. It could be the placement of the bedroom, how close or far the amenities are from home and what the neighborhood looks like. Do not rush the process of buying a home.