When it comes to the home buying process, many potential new homeowners get intimidated by the process. Endless streams of paperwork, credit reports, bank statements — where does the fun begin?
Buying a home doesn’t necessarily have to be stressful. Let’s take a look at some tried and true tricks on how to make the home buying process easier.
1. MAKE SURE YOUR FINANCES ARE IN ORDER
Are you really prepared to buy a house? Believe it or not, many people believe they are prepared to do so, but they find out too late that they are unable to. What you, as the potential homebuyer, have to convince banks of is that it’s a good idea to lend money to you. That means that you have to prove to them that you’re a good investment by making sure that your credit score is high (which shows that you honor your debt obligations) and that you make enough money to cover the cost of the mortgage. A good rule of thumb is that one month of a mortgage should be no more than one week of pay — so if your mortgage is $1,500 a month, you should make at least that per week.
2. HAVE A PRE-APPROVAL LETTER READY
Don’t be afraid to shop around for your mortgage — different banks will offer you different rates, and the bank you go to the most will usually treat you better than other banks. Once you get a bank and a rate that you’re happy with, see to get a pre-approval letter from them. This will prove that you’re capable of handling the costs that go along with the mortgage — which may or may not include property taxes, HOA fees, ancillary taxes, insurance and PMI.
3. TIMING IS EVERYTHING
Within six months of your lease ending, start the home buying process. It’s not something that will happen overnight — contrary to what you see on HGTV, you won’t walk into the first house you see, fall in love with it and get it within 30 minutes (including commercial breaks). This is a process that involves making offers, having them accepted or rejected, then making counter-offers before settling on a price. You have to make sure that you get the right home for you, and that’s going to take time — so, if anything, starting a little bit earlier than you expected can only work in your favor.
4. GET A REAL ESTATE AGENT YOU CAN TRUST
If you’re looking to buy a home in the Houston, Texas area, you need to make sure that your agent knows the area inside and out. You need an agent who’s going to listen to your goals and your list of must-haves and find a house that’s perfect for you, meets all your needs and exceeds all your expectations.
That’s where Cityscape Brokers comes in — we specialize in homes in the middle to upper-end price range of the Houston market, and have for many years. We have helped countless families find their dream home in Houston, and we’re ready to help you and your family the same way we’ve helped so many others.