If you’re thinking of buying a home next year, I have seven tips for you that will help you lay the groundwork for finding and closing on the best home possible.
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If you’re thinking about buying a home in the upcoming year, here are a few things you can do right now to prepare yourself.
1. Check your credit score. Make sure it’s in line so when you’re ready to buy, you can. If not, meet with a lender so they can outline specific steps you can take to correct the situation.
2. Be mindful of the debt you accrue this holiday season. Don’t open a lot of credit cards and put a lot of debt on them. If your debt-to-income ratio is out of line, you’ll have a hard time buying.
3. Ask for cash as your gift this holiday season. That way, you’ll already be saving for your down payment and closing costs.
Don’t hesitate to ask your agent for advice.
4. Let the agent you plan on working with know that you want to work with them in the upcoming year. They need to reserve time to focus on your needs and what you’ll be looking for down the road. You want the very best agent working for you, so give them a heads up.
5. Keep an eye on interest rates. Interest rates are expected to go up next year so you want to be able to buy while they’re still relatively low.
6. Pick out a lender you know you can trust. Ask your agent for advice on this—they work with all kinds of lenders and they know who you can trust, who’s got the lowest closing costs, who’s got the lowest interest rate, and who will perform the best for you.
7. Get pre-qualified by your lender. Take the time to give them your information so that when you find the perfect home in 2018, you already have the file set up and you’re not waiting on your lender to get back to you in order to put an offer on that home.
If you have any questions or would like more buyer or seller tips, feel free to email me or give me a call. I’d be happy to help you.