Three Habits to Form Before Buying a House
If you're planning to buy a home later this year, there are a few habits you can develop now to begin preparing for your purchase. After all, buying a home is a major investment, and the process can be quite stressful if you haven't prepared enough. Here are three things you can start doing now to make the buying process go more smoothly:
1. Automate your down payment savings. You probably already know that the recommended down payment is about 20%. Unless you already have a large amount of cash saved up, it's never to early to start saving up for this expense, and you can never save too much. One practical and relatively painless way to do this is to automate your bank account to regularly set aside a portion of your income into a savings account specifically for your home purchase. The saying "out of sight, out of mind" applies so well in this situation. If you make it a habit to save your money as soon as you get it and put it away "out of sight," you won't be tempted to spend it or accidentally overspend on something else.
2. Clean up your credit history. This goes without saying, but in order for you to qualify for a mortgage, you will have to keep your credit history clean. Even if you have a large income, having poor credit history can get you denied for a mortgage. Make sure you pay all your bills on time and in full; again, automation can help you with this. Technology and the rise of mobile apps have made it easier than ever to schedule payments so you'll never miss a due date or overlook a bill again.
3. Start researching for the right real estate agent. Hiring the right person to find you a home is a crucial step, especially if you are a first time home buyer or if it's been a while since you bought your last home. These days, most reputable and reliable real estate professionals will have a comprehensive website or social media page that you can browse for a portfolio and testimonials from previous clients. Don't forget to ask your family and friends if they can recommend anyone they've had a pleasant experience working with in the past, and be sure to read up on their credentials. Hiring the right person for the job can save you a lot of worry and stress in the long run.
If you are looking for a real estate agent who can assist you with buying or selling your home, I would be more than happy to help make the process go as smoothly as possible for you. Give Robin a call at 714-812-3535 or send me an email at [email protected] to talk about your real estate needs!