Is 2018 the year you become a homeowner? Purchasing a home is a big deal and it can cause people to feel overwhelmed. Like one of our favorite movies, if you take baby steps the whole process becomes easier. So instead of getting anxious about all the things you need to do to buy a new home, we came up with a few simple baby steps to get you on your way. Once you take these first few steps, you'll find that with the momentum it's a little less scary. Here are three resolutions you should take in 2018:
1. I will save money.
Out of every paycheck, designate 5-10% to pay yourself. Not only will it force you to curb your spending, but it will slowly build into your down payment. Make it even easier by setting up an auto transfer on your checking to go into your savings the day your paycheck is deposited. The best way to save money is not to be aware of what you're missing!
2. I will pay my bills on time.
Paying your bills on time is the biggest way to up your credit score. Even if you're only a few days late, the delinquency will have a major negative impact. Also, make sure to keep your credit card balances low or pay them off completely. This shows better behavior than moving credit around to other cards. Follow these steps and you can see improvement in your score in as little as 60 days.
3. I will get organized.
This will help you in a couple of ways. First, organizing all your paperwork will help you when you are ready to take the first real step towards owning a home, getting a pre-approval for a mortgage. Second, cleaning out closets and cabinets will help you take a mental inventory of what you might take to a new home and what you wouldn't. Now here comes the fun part: once you have everything clean and neat, you can begin to make a list of what you'd want in a new home to accommodate your lifestyle. If you noticed you have an abundance of kitchen items, you'll be looking for a kitchen that will work with your flow. If you have a closet packed full of crafting items, you'll want to put an office or extra bedroom on your "must have" list.
Doesn't sound so bad, does it? If you've already done these suggestions, give us a call! We can help you take your next steps.
This week, Focus Real Estate takes you through the most common misconceptions about buying...