Thinking About Buying a Home? Follow These Steps

The real estate market is hot right now, and it’s clear that many people have homeownership on their minds.  Although it would be awesome if buying a house was as easy as it seems on HGTV: it’s far more complicated than you’d believe.  These are the steps to buy a house and start the next phase of your life.

Look At Your Credit Score

Your credit score can decide a lot of things when it comes to buying a home. For example, it will tell lenders how reliable you are and how well you make your payments.  Unfortunately, many of us don’t have the credit score needed to truly succeed.  If your credit score sits below 700, you may have to take the time to build it up.  You can do this by paying off any debts, maintaining a good payment schedule, and avoiding opening any new accounts. If you visit the site you will learn more about Kingston Crossing Conway SC.

Consider How Much Money You Make

How much money do you make in a month?  How about a year?  If you live alone and want to buy this home on your own, you need to factor in if a house payment would take up more than 30% of your income.  If it would: it might not be time to buy a house yet.  If you’re married, this makes things easier since a couple with two incomes has a better chance at making more.

Look At The Cost Of Homes In Your Area

How much are the homes in your area?  In a state like California, you may see a two-bedroom house for nine hundred thousand dollars, while a similar place in Alabama may only sell for a hundred thousand.  Take a moment to look at the local market and decide if you can afford the homes nearby, and if not: whether you’d like to move to buy a home.

Check Out Local Grants 

Some areas offer grants and loans specific to first-time homeowners.  Many states, like Texas, even offer to cover the downpayment for some workers like teachers and nurses. So if you’re interested in saving some money, researching local grants may be all you need to make it affordable for you.

Get Pre-approved for a Loan

Try to get pre-approved before talking to a single real estate agent or walking through a single home.  Although loans can be frightening, you have a better chance at scoring the home of your dreams or finding an agent who takes you seriously if you’re pre-approved. So shop around for a good lender, don’t settle for the first one that tries to approve you.

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Talk To An Agent or Realtor

The final step before you can look at homes is to talk to an agent or realtor!  Although many people don’t think they need these professionals anymore, they make life-changing decisions that can show you homes you wouldn’t have considered.  They can also help you barter the price down into something closer to your budget and needs.  The moment you find one you like, you can find a house you love.

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