Buying a home isnโt for the faint-of-heart. In fact, you need to be ready to take charge of the whole experience if you want to be successful.
Take Charge when Buying a Home
Going into the process armed with all of the knowledge you need is the best way to shopโand purchaseโconfidently.
Hereโs what you need to know:
- How much house you can afford
- Where to find the best loan terms
- How much money you need to save
You also need to know some basic real estate lingo. Finally, you have to be confident that youโre working with a skilled Main Line real estate agent who knows what sheโs doing and has your best interests at heart.
Once youโve built up your reservoir of knowledge, youโre ready to tackle the biggest part: preparation.
How to Get Ahead of the Game
Start by gathering all of your bank statements, tax returns and pay stubs. Itโs best to go back at least 24 months, but if you can only come up with 12 monthsโ worth, that will be okay, too.
From there:
- Get a copy of your credit report. You need to know what your credit scores are so that youโll have a heads-up on what kinds of terms are fair for your situation.
- Gather documentation about any assets you have, including investments.
- Avoid making major purchases before or during the loan approval process.
- Ask questions. As soon as you have a question, ask your real estate agent. Sheโll give you the answers you need so that youโre able to make the right decisions.
Remember, this is about you and your needs. Youโre going to own your home, so you need to own the process that gets you there.
Ready to Talk about Home Ownership?
Call me at 610-608-3119 or fill out my easy online contact form. Iโll be able to start searching Main Line homes for what you need and walk you through the entire process from start to finish.
Links:
How Much Home Can You Afford
Mortgage Basics
How Much Do I Have to Save to Buy a Home
A Short Guide to Real Estate Lingo