4 Things To Do Before Buying A Home
Family,  Finances,  Georgia,  Investments

4 Things To Do Before Buying A Home

4 Things To Do Before Buying A Home

Are you buying a home in the near future? If so, consider these 4 things to do before buying a home. This will help you get ready for the home buying process + help you make a smart decision when it comes to your home purchase.

Know Where You Want to Buy

First of all, you have to figure out exactly what you want to buy, and what you need. Do you want somewhere in the city, or would you prefer the quiet suburbs? Do you need land, or do you prefer a lower maintenance option, such as a condo or townhouse? Do you need extra space for family down the road, or is that a no-go? What about animals? Do you have any now (or in the future) to potentially consider? Make sure that you also consider your commute. While you might change jobs down the road and you cannot foresee every instance, you can do your best to make sure that your future home is in a convenient area.

Is there an up and coming area that you’d love to be in? Look there first if it is convenient to all other aspects of your life, too. There are a lot of things to consider when it comes to knowing where you want to buy, but the good thing is that most people have time on their side. Unless you are rushing to get out of a mortgage or rental agreement, you can take your time and really figure out what you are looking for. This will also give you time to save to make sure that the home is easy to afford! Your home is one of the biggest investments that you will make, so be very thoughtful about the entire process.

Get Pre-Approved

It’s extremely exciting to start the home buying process by visiting open houses and searching on Zillow 24/7 to find a perfect home, but it’s a good idea to have a pre-approval letter in your pocket before you set foot in your dream home. Your pre-approval letter will tell you how much you can really afford and make it easier to narrow down your search. Having that pre-approval letter will also give you some negotiating power when you start working with sellers – you’ll have a greater chance of having an offer accepted when you have a letter stating that you are in a financial position to buy the home. In a competitive market like Georgia is in right now, it’s a really important thing to have before making an offer on a home. It can make or break the deal: trust me.

Commit to A Savings Plan

When you start thinking about moving, take the time to reorganize your budget and put together a savings plan for the down payment, closing costs and moving costs. Putting yourself in a position to make a larger down payment can save you money on mortgage payments in the long run and make you more attractive to the lender. Also, if you’re a first-time homebuyer, don’t overlook down payment assistance programs, if they exist in your area.

In addition to a savings plan, you should also make sure that you are on-track when it comes to your overall finances. It will be really hard to get pre-approved for a decent sized home loan if you are covered in high-interest credit card debt. Plus, it will be hard to build that savings up! Make sure you fine-tune your credit score + lower your debt before stepping foot in an office where you are hoping to get pre-approved in. There are so many great ways to do this, but an easy way to make some extra cash to put towards your debt is by utilizing a handbag pawn in Atlanta if you have extra valuables purses sitting around your home.

4 Things To Do Before Buying A Home

Chapes-JPL can help you with this and so much more, such as purchasing your handbags, gold, jewelry, watches, and more. They also offer low-interest asset loans if that is of more interest to you. They offer asset loans + cash (if you are selling) at the lowest rates possible in GA. Also, they have a 4.9 star rating on Google with over 180 reviews. When looking for a low interest loan or if you are trying to sell your valuables, you need to be able to trust the person/company that you are selling to. This is a fantastic way to vet the company & Chapes-JPL passes the test with flying colors.

Create A Home Budget of Your Own

Even though you may be preapproved for a certain amount, there’s no rule that says you can’t set your own budget that’s less than your pre-approval amount. Doing so can give you more confidence with your finances and may free up more money for discretionary expenses. Whether you want to have more money to travel or prefer to live with a higher disposable income, adjust your budget limits to suit your lifestyle.

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