New Year, New Home - 5 Things You Can do to Achieve Your Home Buying Goal in 2018
The new year is just around the corner. Only 2 days until we get to flip the page on the calendar and begin a whole new adventure in another year. Last year I changed it up a bit. Instead of making a new year’s resolution I set new year’s goals and I picked a word to incorporate into my life for 2017. A little something to live by. My 2017 word was “enjoy.” Since it was the year of our wedding I chose to remind myself that I needed to enjoy the moments the year was going to bring - showers, celebrations, and ceremonies. I would like to think I did enjoy all the moments of this past year, savoring them and the people I shared them with. This year, I’m setting more goals (read more books and organize my home) and selecting a new word. This year’s word is intention. What do you do? Do you select a word to live by or do you do the tried and true yearly resolution?
A reoccuring new year’s goal I’ve heard from several friends of mine has been to buy a home in 2018. In fact, I’m setting off to show my Maid of Honor and her husband a home right after I post this! They’re very serious about their goal to own in 2018. If a home is on your list for 2018 here are 5 things you can do to prepare for your home buying experience.
Keep your bank and credit cards the same
Part of buying a home will be having the bank review your current financial state. It is best for you to keep your finances as they are, without opening additional lines of credit or switching banks, to show a consistent financial history.
Meet with a loan officer
Before meeting with anyone else (yes, even before meeting with me or another Realtor®) you should meet with a loan officer. They can give you an idea of your real home budget, provide you with a pre-approval letter, and/or let you know what you can do to make your goal of owning a home in 2018 a realty.
Select an area of town
If you haven’t nailed down your area yet this is a great time to explore and decide where you want your home to be. If you’re in Richmond (or an area of similar size) it’s best if you can narrow your search area down to a side of town so you aren’t driving all over. Do a little research by looking up school districts, driving through some popular neighborhoods, and visiting the area you’re looking to live in. I always suggest popping into the area grocery store, going into the pharmacy, and eating at a few restaurants around where you’re looking to buy. These are the places you’ll have to go regularly and you want to be not just comfortable but happy going into them.
Save up some money
Start putting some funds away to cover some of the upfront costs that come with buying a home, like your down payment and your inspection fees. Doing this now will help you feel less stressed when you find your home.
Keep your large purchases to a minimum
Along the same lines of saving up and keeping your bank the same, try not to make any large purchases. Your loan officer can better address specific situations but for the most part large purchases like furniture, cars, or anything requiring a new line of credit should wait until you sign the dotted line for your new home.Have questions? Shoot me an email! I'm happy to help answer any questions or provide some direction.
Happy Hunting,
