5 Tips for Buying a New Home
1. Get pre-approved with a local lender
Having your finances in order before you start looking will give you a leg up in today’s hyper-competitive market. By working with a local lender, you can often get a more personalized offer from someone with a better understanding of your needs and the local market.
2. Work with trusted realtors
It might sound like a no-brainer, but realtor Brittany Savant said people don’t always realize the importance of working with an agent you can trust, who has your best interest in mind. Her tip to finding one? Ask around! “Word of mouth is the best advertising, and it goes both ways. When people come through a referral from someone they trust, they’re already going to trust me more. Having that trust just makes the whole process more enjoyable and less stressful,” Savant said.
3. Listen to your realtor and lender
Follow the advice of the experts around you. To Savant, there are few things more frustrating than stubborn clients who are convinced they know best. “Experts are experts for a reason! Help us, help you,” she said.
4. Don’t buy at the top of your budget
Setting a budget should be the first thing you do when you start your home buying process, Savant said. But, she also warns against getting too comfortable with the number at the top of the scale. “Having some wiggle room at the top of your budget for unexpected expenses is always a good idea.”
5. Maintain your credit and don’t get seduced by new credit card prospects
Realtor Joel Bacque cautions buyers about opening new credit cards before they secure their loans. Most prospective buyers work hard to get their credit up before applying for loans, which sets them up to be solicited by credit card companies. But, even if the terms are favorable, Bacque recommends taking a pass to avoid potential issues when applying for a loan.