Purchasing your first home can be exciting and stressful all at the same time, but it is a huge step to take in the right direction when it comes to becoming more self reliant and independent. Whether you are a first time buyer or have purchased properties in the past, there are a few steps that should be taken before hand to properly prepare you for purchasing a home. Make sure you do your home work when it comes to credit scores, interest rates and insurance costs so you are fully prepared to take on all that comes with purchasing a homez! The Tina Peterson Team offer some helpful tips below.
Get Pre-Approved for a Mortgage
One of the best steps you can take before purchasing a home is to become pre-approved for a home loan. When you are a pre-approved buyer, that means that a lender has looked over all of your financial information and they have let you know exactly how much you can afford and how much they will lend you. When you become a pre-approved buyer, you save you and your real estate agent a great deal of time, because now you are not running around looking at houses that you cannot even afford. You will know exactly what homes fit into your budget and save yourself any let down or headaches.
Is Bigger Always Better when Buying a Home?
Looking for a home can be exciting, and buyers often get too excited when they come across a bigger home that will still fit into their budget. Bigger is not always better when it comes to purchasing a home. While most everyone is immediately drawn to the biggest and most beautiful home on the block, remember that large homes only appeal to a specific type of buyer and so when it is time to put your home up for sale, you may only be advertising to a smaller market, rather than a much larger group with a midsized home.
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Another important and often overlooked step to take before purchasing a home is to check out the neighborhood. It is important to see what the neighborhood is like in the morning and at night as well. If you see something you don’t like or that may indicate it is not as safe as a neighborhood as you wanted or there are not enough families, or not enough kids playing that would suit your family, you will want to take all of these facts into consideration before making this most important purchase. If you are ready to purchase a home, contact The Tina Peterson Team today.