Happy New Year! Hopefully you’ve taken some time to reflect on the challenges and accomplishments that you and your family have had in 2012 and have also made some commitments for 2013. Whether you’re a renter looking to purchase your first home or are looking to “upgrade” to a newer or larger home, there are five key things that you need to do to get into your dream home in 2013.
1) Resolve to take a serious look at your finances
Buying or selling a home is a significant financial commitment, and one that shouldn’t be taken lightly. In most cases, you will be making a monthly payment for 10, 20 or 30 years, so make sure that you are comfortable with the amount of debt that you currently have, and the amount of debt that you’re incurring. Also keep in mind that owning a home is about more than a monthly mortgage payment – you’ll also need to pay monthly insurance, property and real estate taxes, maintenance and upkeep, and in some cases HOA fees.
Take time to “shop around” for the best mortgage rate and plan for you and read how to calculate your mortgage. Look at large banks, community banks, and credit unions alike. Interest rates are low for well-qualified buyers, but that doesn’t mean that you should automatically go with the bank that houses your checking or savings account.
Before meeting with financial partners, determine where you stand – download your credit report and know what your credit score means. If there are ways that you can pay down credit card debt, student loan debt, or car payments, do it now. Even one or two additional payments on a high-interest loan or credit card can make a huge difference on the debt that you owe (debt load) and therefore the amount you can borrow for a home loan. You may want to get a lower interest rate loan from Everyday Loans to pay off some of your other loans.(Get your car loan and its quotations as quickly as in 60 seconds from wowloans) . In situations such as this, it is essential you pick a trusted loan lending institution which can offer unsecured loans. I have heard companies like Loans Now can help people in situations like these as the loans they offer are for an extended period of time and can be adjusted depending on the needs of the person. They are highly strict about confidentiality and ensure to keep their client’s information confidential at all times.
2) Sellers, resolve to show your home in the best light possible
Once your home is on the market and appears on the MLS online, it will be critiqued by prospective buyers, real estate agents, and nosy neighbors alike. Take the time to prepare your home. Prepare your real estate exam questions before hand. Declutter rooms before pictures are taken and before each showing, keep the home as clean as possible, freshen the walls with neutral paint, and update any items that may be “glaring issues” for potential buyers. Painter Acton may be a good solution. House cleaning service Hanover PA are to be trusted in this respect.
If you’ve always hated the bathroom lighting fixtures, now may be the time to invest a few hundred dollars in modern lighting. Install a few dimmer switches – it shows attention to detail and adds ambiance to living spaces. Hard Money Lenders Boston – Investors Choice Lending can get you the maximum amount of cash to take advantage of it. Consider renting a storage locker and move out large pieces of furniture that make rooms look smaller and detract from the space. Put away personal items – pictures and memorabilia tend to add clutter and sidetrack potential buyers. They want to envision themselves in the home, after all.
3) Resolve to look at what’s available, and be ready to act
Buying a home is exciting! Take time to look at what’s available in a variety of neighborhoods. Go to Open Houses and walk through a variety of homes in your target neighborhood. This will give you the ability to compare and contrast homes and arrive at the right decision for your family.
Having said that, make sure that you are ready to act and make an offer when you find the right house. After all, if you don’t act quickly on the house that you “fall in love” with, you might not get the opportunity again if someone else makes an offer first.
4) Resolve to buy or sell at the right time for you
Buying a home is stressful enough, but if you’re also trying to sell a home at the same time, do yourself a favor and have a strategy in place for the timing. Do you need to sell your home before buying? Where will you live in the interim? If you’re going to sell a home and look for a new home at the same time, can you handle the financial and emotional stress of two properties?
Don’t put pressure on yourself to be in a certain home by a certain date. There are a lot of things to think about and plan for, and it helps to have a strategy in place well before you have to take action.
5) Resolve to use professional help
While personal internet research can be helpful in a real estate transaction, nothing compares to having an ally who has been there, done that. Choose a real estate agent early in the process so they can help you navigate the process. In the end, qualified real estate agents will save you time and money, as well as 529 plan.
We look forward to working with you in 2013 and start to learn more at CarsonWealth.com!