You’ve probably heard that there’s never been a better time to buy real estate, and that may be true, but if you’re a first-time home buyer buying a home may not be as easy as it once was. If you’re considering purchasing your first home you should check your credit score several months before you apply for a mortgage. By doing so, you will have time to address and attempt to correct any issues that might arise. You also need to start saving now. It’s best to put down at least twenty percent. If you don’t think you can swing 20%, you should do research into loan programs that will allow you to put down less. A great way to boost your savings is to make a budget, get a notebook, and write down where every penny you spend is going. By cutting back your excess spending you can up your down payment. When you’re ready to get serious about looking at homes be sure to get pre-approved for a mortgage. In addition to all the financial stuff to prepare, be sure to envision the home you dream of. You should make a list of your must haves (as well as your can’t stands!) and figure out what you are willing to compromise on and what you’re not.
Finally, and possibly most importantly, find an experienced team of real estate professionals that you like and can trust. Purchasing your first home is a huge step and it requires a significant amount of research, information, and knowledge. A knowledgeable real estate team can educate you, help ease the process, and make everything easier on you during this stressful time.
If you’re considering purchasing your first home, having Cooper Realty Associates on your side is an excellent first step. Give us a call and let us share our experience with you – 302-644-2266.