Will 2018 be the year you purchase a new home? It’s an exciting goal to set—and it’s infinitely more attainable with the right plan in place. It goes without saying that the appropriate plan will vary according to your specific objectives—and that an experienced real estate agent will be invaluable in helping you to hammer out the details. That said, the below steps are critical components in anyone’s journey to homeownership. Commit to them now and you’ll reach the finish line faster!
Strategize on savings.
It’s fairly simple, and you’ve heard it before, but it bears repeating: the higher your down payment, the lower the amount you’ll be paying on your monthly mortgage payments. You may also be able to secure a more favorable rate on your loan when you pay more up front. Therefore, a savings plan, if you don’t already have one in place, is essential. Assess your monthly spending, identify areas where you can cut back, and if possible, set up an automatic deposit to hit your savings account once a month.
Scout potential neighborhoods.
If you’ve been thinking seriously about purchasing a home, you probably have a list of must-have features in mind. If you haven’t added a neighborhood to that list, now is a great time to weigh your options. Would closer proximity to your job or your children’s school prove more appealing than something on your “nice to have” list, like a formal dining room or a swimming pool? Unless you’re working with an unlimited budget, it’s helpful to prepare yourself in advance for a variety of scenarios.
Study the market.
Start reading up on what’s happening, real estate-wise, in the neighborhoods you’re interested in. If you educate yourself, you’ll be well prepared to ask the right questions and make the most strategic decisions. Additionally, you should start paying attention to what’s going on in the world of finance if you’re not already.
Find the right agent.
At the end of the day, achieving your homeownership goals is dependent on your own decisions and discipline—but guidance from a seasoned professional with a proven ability to navigate the complexities of the task at hand is a game-changer. Best of all, choosing an agent is another decision that’s 100% yours. Even if you’re not quite ready to buy, there’s no reason you shouldn’t begin the process of interviewing agents. That way, you can take your time finding one you really like and trust.
Reach out and we’ll connect you with a First Team agent to help you start strategizing your big move.
Email us at clientservices@firstteam.com
Call us at 888-870-1142
