5 Things to Do Before Buying a Home
Are you ready to own a Waukesha home?
Buying your first home is exciting! It is a big step, a milestone in life. After all, acquiring a home is the fulfillment of the quintessential American dream.
Like many first-time experiences, you'll probably feel overwhelmed by the different choices and decisions you have to make. Selecting a Waukesha home to make your own is not easy, but with the right help and guidance, you can even make your first purchase fun and simple!
Things to remember
To make sure that you're on the right track, here are five important things you have to remember.
1. Keep track of your expenses. How you spend your money before deciding to buy a home greatly affects your credit worthiness and your savings. Whether you spend the money carelessly or carefully will reflect on your credit score, which lenders check to see your paying credibility.
Take note of how you spend your money. This can be easily done through a journal or spreadsheet.
Recording your expenses lets you see how much you spend and where your money goes to. Do you spend more on fun and social activities or do you put a large chunk into savings? If you find yourself spending more than you should, now is the time to curb your overspending and start putting more for your future home.
Always remember that financial preparation is essential in buying a home.
2. Create a budget and stick to it.
Once you see where your money is going, the next step is to create a realistic budget you can follow.
Some sacrifices are necessary. You may have to lessen your dinners out with friends or spending money on luxurious items. You may have to cut back on online shopping and instead put your money in savings.
Make sure to save for your 10 percent initial deposit, as well as your 5 percent closing costs. Doing this will ensure you have sufficient money in your pocket when the time comes for you to buy a house.
3. Hire a good real estate agent.
Not all Waukesha realtors are the same. Don't make the mistake that many other new home buyers do of hiring the first agent they come in contact with.
Finding the right real estate agent requires some legwork but it is well worth it. Ask around, check online for the different agents, read reviews, and interview these agents personally or on the phone.
Having the assistance of the best Waukesha real estate agent means having the best support system, clear communication, accessibility and fast response to your queries.
4. Make a list of wants and needs
Before you even look at homes within your budget, it's already a great idea to have a list of wants and needs. Write it down and present it to your Realtor®. This streamlines the search process, making it easier for you to be directed to homes that are suited for your requirements.
Be flexible. You may not find all your must-haves in one house. Sometimes along the various home showings, you may realize there are other features you want to add to your list. Adjust your list and take your time in looking for a new home.
5. Clearly explain what you want to your agent.
Excellent communication is essential in home buying. Tell your agent what you want, what you don’t want, and what your priorities are in home.
Doing this will help your agent know what properties to suggest so you don’t waste valuable time and effort.
Home buying is not easy. It’s something that needs to be given a lot of thought. A good deal of preparation is needed to avoid costly mistakes. But when you remember these five steps and prepare well, owning your first Waukesha real estate property is a sweet reward.
For more home-buying tips, visit http://www.KristinJohnston.com/.
Call me, Kristin Johnston at 414-254-6647. I’m your real estate expert here in Waukesha WI.