Before you start looking at all of the beautiful homes out there for sale you need to make sure that you have done your homework at have these things marked off on your home buying checklist.
Determine how much you are going to spend
It’s not super fun, but you need to look at your finances and determine how much you can put down for a down payment, your credit score, as well as how much you want your monthly payment to be.
Determining how much you can put down will determine what type of loan you will qualify for as well as contribute to how much interest you will have monthly. As I wrote about credit score and buying a home, your credit score health will make a difference before getting a mortgage. If you need to repair your credit, this is the time to figure it out and make those changes before you fall in love with your dream home and then realize you need to repair it.
For a quick way to put in your rough numbers check out my mortgage calculator as well as current interest rates.
Get approved for a mortgage
The mortgage company will look at your finances and give a pre-approval letter stating how much they believe you will qualify for (this will come back when you buy a home and get it appraised. Homes must appraise at the value of the mortgage or higher, otherwise the mortgage company will deny the mortgage).
Determine what you want, and what you can’t live without
Can you live without a walk in closet but can’t dream of living in another neighborhood than the one you’re in now? Do you have to have 2 bedrooms but could make do with 1 bathroom? Make a list of these things so you can figure out what is most important to you and will also help your real estate agent.
Find your perfect real estate agent
A real estate agent who is also a REALTOR, is an invaluable resource to helping you through this process. They can help you navigate everything that has been listed above, the home search process, closing a home, and moving. I absolutely love helping homeowners all throughout the Denton County area find their dream home, and assisting them throughout all the tricky parts of buying a home.
If you need more information on anything above, buying a home or selling a home I would be thrilled to help you. Contact Sherry Adams to get started with your new home in Denton County!
