You’ve determined that you’re ready for the investment and that buying a home is now the best option for you (and your family). What’s next?
There are a number of questions you should ask yourself before taking any serious steps forward – to avoid making a purchase you aren’t happy with in the long run. Here’s a few big ones:
What is on your must-have list? A must-have list isn’t just for guests on HGTV’s “Love It, or List It.” Prioritizing your needs and realizing what you can and cannot live without, is the only rational way to find a home that suits you.
Are you willing to settle in for a minimum of 5 years? Experts say it takes a minimum of 5 years to gain back the value from your home. If you’re frequently on the move, it may be a better option to continue renting so you don’t lose money in the investment.
What is your realistic budget? Make sure that you think outside your monthly mortgage payment. Property taxes, insurance, a down payment and closing costs all factor in to the overall price you can afford.
How will you find an agent? Your agent is an extremely important part of buying a home. Make sure you do adequate research and consider taking referrals from friends that recently went through the same process.
Do you know your credit score, mortgage options, etc.? Unfortunately it takes a lot more than just finding the right house to make a purchase. Make sure you are mortgage-worthy, find out what mortgages are available to you, and get preapproved or prequalified before you even begin house hunting.
Leslie Clarke Homes can help you navigate the home purchasing process whether it is your first time or not. Call our team today at 203.984.1856 or visit our website for more information.