Financial Tips – Saving for a Home & Pre-Qualifying for a Mortgage
Getting ready to buy a house? There’s a lot to consider, but you don’t have to figure it out on your own! Here are our top 3 tips to consider before your first home tour with your agent:
- Know Your Budget
Consider what you need to know to create a budget that will work for what you need.In addition to a down payment consider saving for the closing costs, brokerage fees and the moving process. Knowing what all your budget accounts for will give you more clarity during the home searching and closing process. Knowing your budget allows you to be realistic in your offers, as well as what prices you’re will to walk away from if needed. - Nurture a Healthy Savings
You need to do more than know your budget, you need to know what is needed to make it happen. Cultivating a savings doesn’t happen overnight, it takes time and consistent effort following a plan. You can use apps designed to help you create savings over time like Mint or other budgeting apps. - Get Pre-Approved
Did you know getting pre-approved can make you a more desirable potential buyer to sellers? Not only that, but it could help to strengthen your confidence as a buyer. Getting pre-approved gives clarity while searching to limit your options to what is realistic. Have you been thinking about starting the pre-approved process and feeling overwhelmed? You’re not alone, don’t let what you don’t know keep you from making informed choices. Doing research can help build confidence and get you pre-approved before you view your first home!
Consider these tips and get started today! And when you’re ready to buy, our agents will be here to help you navigate the home buying process and get you into your dream home.
