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Essential Home Buying Tips

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canstockphoto8243403We are coming to the part of the year where most people are starting to get out and look for homes to purchase. If you are among them, you might see heavy competition. Here are a few tips to help you make sure you not only find a house you love, but that your offer on that house is accepted.

  • Don’t move your money around. Moving your money from account to account right before you try to finance a home purchase can make you look like a dangerous investment for your lender. Leave your money where it is. For at least three months before you are going to make the purchase, don’t move any large sums of money from one account to another.
  • Get approved for your loan before you make an offer. Getting pre-approved for a home loan before you even find the house you want to buy will enable you to make an offer much faster than you otherwise would be able to. The faster you move, especially in today’s market, the more likely it is that you will be able to buy the home that you really want. Getting pre-approved means all of the research that should go into finding a loan will be done long before you actually get to the home buying stage.
  • Don’t wait. Many people hear that the market is a seller’s market and decide to wait around for a few months to see if the tides of the market turn in favor of the buyers. The truth is that trying to anticipate what the housing market is going to do can seriously hurt your chance of find a home that you love. When it comes to buying a house, the best thing to do is not sit around.
  • Don’t fall in love with paint color or flooring. When you choose a home because you like a paint color or the previous owner’s flooring options, you are buying a home because you like the decorating, not because you think the home is right for you and your life. Try to look past the staging to what really matters: the size of the kitchen, the number of rooms, and the home’s architectural features.
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2 comments
  • Kendall Ryder
    REPLY

    Another good tip before buying would be to set a budget. That way you don’t end up looking at homes that are out of your price range. If you start doing that you may end up justifying a more expensive home. That could cause you to get into debt which will open a host of other problems!

  • Kenneth Gladman
    REPLY

    I like your advice on getting a loan approval before making an offer. When you are pre-approved you are always ready to set an offer on the table. In a fast paced market you always want to be prepared when a great situation arises.

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