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steps to buying a home

Buying a home – Steps

What are the steps to buying a home?

Many people question whether or not they would get approved for a home. Don’t be scared of the what-ifs or not being in a good position presently. Buying a home is an obtainable goal. This is a goal you can easily prepare for and can be broken down into smaller goals. In order to optimize your goals, it is important to access your finances.  The best route is to take it one step at a time. You will need to make three lists

This first list will be bullet points of the steps needed to fix or boost your credit score. If you have delinquencies on your credit or anything else negatively affecting it, write it down. Also, write down credit cards and items you are currently in the process of paying off. Highlight what you can fix now and underline what may take a longer time period to fix.

Now make a list of your expenses and compare that to your flow of income. Highlight what you can eliminate and underline what you can cut down spending on. This will also help you evaluate what you are able to save monthly to set aside for a new home. Your last list will be a series of small goals leading up to big goals. These can be of numerical value if you have a certain dollar amount you would like to save in a specific time period. They can also be ideas and features you would like in your dream home. The timeline of your goals won’t be the same as anyone else. Be sure to be realistic, transparent, and consistent when buying a home.

Once you have accessed your credit and finances it is time to reach out to a lender. A Realtor can help put you in touch with a lender or you may seek one yourself. Keep in mind, in order to be in the best position when stepping into the real estate market it is crucial to be pre-approved. Your lender will over all the necessary information and answer all your questions. You will then take the steps needed to get pre-approved. Also, ask what programs you may be eligible for such as Veterans or first-time home buyers.

Once you are pre-approved, you must prepare for expenses such as your down payment and closing costs. This is also the best time to have a conversation with your Realtor. You will discuss different scenarios and what to expect. From here on you will begin the search for your new home! This process can be very fun but stressful as well. It is crucial to have a professional by your side to provide insight and help you navigate through the real estate market. Not only will they assist in the process of buying a home but all the steps before and after as well. Call our firm today to get in touch with a Realtor! 704-533-9387

 

 

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    Crystal King

    Crystal King Broker in Charge

    NC Broker / Realtor®

    704-533-9387
    crystal@castlegategroup.com

    18119 W.Catawba Ave, Cornelius,
    NC 28031

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