I know that I’ve mentioned this a few times now, but my husband and I are buying a house.
…and believe me when I say this is the most stressful thing I’ve ever done…
Something that should be an exciting and enjoyable task is actually real complicated and excruciating.
We wanted stability for our daughter and we were quickly growing out of our apartment.
Those two reasons started us on the journey for the search of our home.
By journey I mean a very tedious and obstacle filled road that gives you lots and lots of pimples!
We knew that we were very naïve to the entire process from beginning to end.
Since we knew this, we decided to reach out for help before diving into the biggest decision of our life.
I called my rockin’ life coach to give me her next bit of life changing advice!
Ten important things to do prior to house hunting.
1. Educate yourself.
There are multiple resources for home buyers to educate themselves on the complete process.
We went to two classes and they were both very informative with information from all perspectives!
2. Research grants.
There are numerous different grants out there for all different types of people in different situations.
We found multiple first time home buyer grants. Any amount of free money helps, so, yes please!
3. Make a budget.
Total your income and subtract your expenses to see how much of a mortgage your could afford.
Remember affordability means being comfortable. You want to own a home AND have a life!
4. Research areas of interest.
Become an expert in school district ratings, crime statistics, and other points of interest to you.
The best advice I got was to be several different towns that we’d be comfortable purchasing in.
5. Hire a knowledgeable team.
Work off of referrals and make sure that they are always within reach to answer all questions.
I got lucky with this since one of the classes I took gave us great referrals!
6. Become well versed in mortgage products.
Learn the ins and outs of different mortgages and decide which one best fits your needs.
There are several state or federal funded loans that really are great. Look into those too!
7. Check your credit score.
You should be very familiar with your credit score and all of the relating variables.
Despite my original belief, a credit score doesn’t have a very high impact on your mortgage amount.
8. Familiarize yourself with taxes.
Learn the ins and outs of property taxes because they impact everything when it comes to a home.
Taxes not only increase your monthly mortgage payments, but they also impact closing costs.
9. Build up your savings accounts
If you’re serious about getting a home, you’ll never have enough money. Bulk up the savings now!
This was the hardest part for us! It seems like every time we have extra cash, we spend it.
10. List your non-negotiable items.
These could be anything. Maybe you must have a large backyard or you require gas heating.
My counselor is huge on this! She knows that picking non-negotiables will point you in the right direction.
What are your tips for preparing for home ownership?