Apr 13, 2016

Posted by in Real Estate | Comments Off on 4 Ways to Prepare for Buying a Home

4 Ways to Prepare for Buying a Home

4 Ways to Prepare for Buying a Home

Preparation is often the key to getting what you want. That logic holds true for when you find yourself investing in property. Because finding and buying property doesn’t happen in a day. Here are some of the things you should be prepared to do if you want to fulfill your goal of becoming a future property owner:

1. Have a healthy savings account, says Bankrate. This is one of the first things you’ll need as a home buyer long before you consider putting a final offer on a home, much less start shopping for one. After all, you’ll want to show lenders that you’ve got the financial resources necessary to cover the costs. It’s best to have three to five months worth or mortgage payments—or more—saved.

2. Have an emergency fund. Buying a home can be a financial risk. By tying your income down to mortgage payments, you could lose a lot of your financial flexibility, making you vulnerable to a financial catastrophe if and when an emergency happens. That’s why saving for a home shouldn’t stop you from putting by enough for a rainy day. Knowing you’ve got an emergency fund can be the safety net you need to tackle sudden future home costs—like maintenance and repairs—for your home.

3. Ask for help from an agent. Finding the best properties on the market might mean you need more insiders’ knowledge and market information. That’s why engaging the services of a real estate agent can help. Agents, given their long years in the business and familiarity with the home market, can provide you with thorough Houston Texas real estate listings, complete with one or two homes that might not even be out on the market just yet. With their industry connections and by keeping an ear on the ground for properties, they can get you dibs on a property before anyone else can have a chance to see it and steal it from under your nose.

4. Get preapproved for a mortgage. Before looking at homes, know how much you have. Put your financing to rights. Have your mortgage application approved before you move forward with anything else. When your finances are ready, that’s the best time to start shopping for the property that could be right for you and your family.

So get your home shopping started the right way. Make sure you’re all set by taking these tips to heart.

Keller Williams Realty provides you with a range of real estate services. Let us know how we can help you. Inquire with us today!

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