Katie Fisher Team's Blog
Pursuing a house can be difficult, regardless of the current housing market's conditions. Thankfully, homebuyers who plan ahead may be better equipped than others to enjoy a quick, seamless and successful homebuying experience.
Ultimately, there are many reasons to prepare for buying a house, and these include:
1. You can determine where you want to live.
A homebuyer who knows where he or she wants to live can tailor a home search accordingly. As a result, this buyer can speed up the process of acquiring his or her dream residence.
When it comes to planning ahead to buy a home, it generally helps to know where you want to go. If you make a checklist of home must-haves and wants, you may be able to hone your home search to specific cities and towns. Then, you can pursue residences in these areas and find your dream house faster than ever before.
2. You can enter the housing market with a budget in hand.
You know that you want to buy a house, but you still have no idea how you will pay for a residence. Fortunately, if you plan ahead for the homebuying journey, you can get your finances in order and enter the real estate market with a budget at your disposal.
Generally, it is a good idea to get pre-approved for a mortgage prior to pursuing a residence. A mortgage provides you with a set limit that you can spend on a house. Thus, a mortgage can help you minimize the risk that you'll spend beyond your means to acquire your dream residence.
Obtaining a mortgage can be quick and easy too. Meet with banks and credit unions, and these financial institutions can teach you about a broad array of mortgage options. Next, you can choose a mortgage and kick off your home search.
3. You can find an expert real estate agent to help you along the homebuying journey.
If you plan to enter the housing market, you may want to hire an expert real estate agent sooner rather than later. With an expert real estate agent at your side, you can streamline the homebuying cycle.
A real estate agent knows exactly what it takes to purchase a superb residence at a price that fits your budget. He or she first will learn about your homebuying goals and provide insights into the local housing market. This housing market professional then can customize a home search to ensure that you can achieve your desired results.
Let's not forget about the comprehensive support that a real estate agent delivers throughout the homebuying journey, either. A real estate agent will set up home showings and offer homebuying recommendations at each stage of the homebuying journey. And if you discover your ideal residence, a real estate agent will help you put together a competitive offer.
There are many great reasons to plan ahead for the homebuying journey. And if you start planning today, you may be able to enjoy a stress-free homebuying experience.
The homebuying journey may be long and arduous, regardless of whether you're pursuing a house for the first time. However, if you bring your A-game to the homebuying journey, you can speed up the process of finding and acquiring your dream residence.
Now, let's take a look at three tips to help you bring your A-game to the homebuying journey.
1. Establish Homebuying Criteria
There is no need to waste time and resources as you search for your ideal residence. Thankfully, with homebuying criteria in hand, you can streamline your home search.
Consider the cities and towns where you may want to reside. Then, you can narrow your house search to a select group of cities and towns.
Also, think about the features you want in your dream house. If you want to own a residence that offers a beautiful outdoor swimming pool, for example, you can hone your house search accordingly. Or, if you require a home that provides multiple spacious bedrooms, you can pursue houses that match your criteria.
2. Get Pre-Approved for a Mortgage
Pre-approval for a mortgage is paramount, particularly for homebuyers who want to know exactly how much they can spend on a residence. If you meet with banks and credit unions, you can get pre-approved for a mortgage in no time at all.
Of course, when you meet with banks and credit unions, don't hesitate to ask home financing questions. Banks and credit unions employ knowledgeable home financing professionals who can teach you about the differences between fixed- and adjustable-rate mortgages and much more. As such, these professionals can help you make an informed mortgage selection.
You should consult with a variety of banks and credit unions, too. That way, you can learn about all of the mortgage options at your disposal and choose a mortgage that suits you perfectly.
3. Work with a Real Estate Agent
Ultimately, there is no reason to work alone when you search for your ideal home. But if you hire a real estate agent, you can receive expert guidance as you navigate the homebuying journey.
A real estate agent knows the ins and outs of the housing market and is happy to share his or her homebuying insights with you. Plus, a real estate agent will craft a plan to help you quickly discover your dream home. And if you are concerned about acquiring a house at the lowest-possible price, a real estate agent is ready to negotiate with a home seller on your behalf as well.
Furthermore, a real estate agent can guide you through the home closing cycle. He or she will help you finalize your home purchase and ensure you can relocate to a new house without delay.
Bringing your A-game to the homebuying journey can make a world of difference in any housing market. By using the aforementioned tips, you can simplify your home search and accelerate the process of acquiring your dream residence.
You want to buy a house, but you know that you need to save as much money as possible for a down payment. Although you've tried to save money in the past, your best efforts have failed to help you collect the funds that you'll need to make a down payment on your dream residence.
Let's face it – saving for a home can be difficult. Fortunately, we're here to offer creative ways to help you get the money that you'll need to make your homeownership dream come true.
Now, let's take a look at three creative ways to save for a down payment on a house.
1. Start a Friendly Competition
Competition often brings out the best in homebuyers. Much in the same vein, you and your friends may be able to compete against one another to see who can save the most money for a down payment on a home.
If you and your friends intend to buy a home together or separately, a friendly competition can make a world of difference in getting the required funds for a down payment. In fact, you can even award the winner of this competition with an "Ultimate Saver" trophy or other fun prizes.
Ultimately, a friendly competition is a great way to have fun with friends and save money for a down payment on a house at the same time. Regardless of who wins the competition, you'll notice that your down payment savings will increase, moving you one step closer to acquiring your ideal residence.
2. Use a Rewards System
Saving for a down payment on a home may seem like a long, arduous process. However, if you build rewards into your day-to-day savings efforts, you can earn incentives as you reach various milestones.
For instance, you may want to reward yourself with a special dinner every time that you reach a savings milestone. Or, you can always celebrate hitting a savings milestone with a trip to the dog park with your puppy.
3. Trim the Fat from Your Budget
It sometimes can be tough to remove cable TV, takeout meals and other excess items from your budget. But if you consider the long-term benefits of these short-term sacrifices, you may be better equipped than ever before to save significant funds for a down payment on a home.
Look closely at your daily, weekly and monthly budgets. Then, you can determine which budget items are essential and which are not and trim the fat from your budget accordingly. This will allow you to speed up the process of saving for a down payment on a house and ensure that you can achieve your homeownership dream faster than ever before.
Lastly, as you prepare to explore available homes, don't hesitate to reach out to a real estate agent for extra help. By hiring a real estate agent, you can get the assistance that you need to discover a great house that falls within your price range.
Your credit score is one of the most important numbers to your financial picture. You know how important it is to have a high credit score. If you pay your bills on time and keep your debt down, you think that your score will be just fine, but this isn’t always the case. There are a few hidden mistakes that you could be making that are bringing your credit score down. Read on to find out what to avoid when trying to keep your credit score up and maintain it.
Too Many Credit Inquiries
Beware that every time you apply for a new loan or even just check on what type of interest rate you can get, your credit will be reviewed. You want to avoid too many credit inquiries because a high number will bring your credit score down. Always ask if a lender is pulling a hard inquiry to check your score, don’t allow too many of these credit checks.
Anything Small Can Make A Big Impact
Was there a mistake on a medical bill that you paid but it says it was unpaid? If you let this go, your credit score could be impacted. Even unreturned library books that have been turned over to collections can negatively affect your score. Stay on top of things because you never know how a small mishap can affect you.
Your Information Is Wrong
You should look at your credit report so that you can see more than just your history. You can see the information that is being reported to check for mistakes. Incorrect information can bring your credit score down. You can call the credit bureau that’s associated with any errors that you see on your credit report. It can be a little bit of a process to correct the mistakes on your credit report, but the time and effort is definitely worth it for your credit score.
Not Using your Credit
While using your credit too much is a problem, not making use of your credit at all can be a problem. Responsibly use your credit. Open a credit card and use it to make small purchases. Charge only things that you can afford and pay the balance off each month. This simple use of a card is one of the easiest ways to establish credit.
It’s important to do what you can to develop and maintain a healthy credit score. Keep all of your avenues covered to be sure that nothing hidden can negatively affect your credit score.
Getting settled in your new neighborhood is a big task. There are boxes to unpack, utilities to organize, new schools to register for, and new neighbors to meet. You have to learn new routes to work, and if you moved because of an employment opportunity, a new job to learn.
On top of that, you have to figure out new traffic patterns and where to find the best grocery stores, how to get to the post office or find the library and other services. You’re trying out new restaurants, exploring the sights and just getting settled in.
Then, you fall ill on the weekend, or your child discovers broken glass the hard way. With all the busyness and activity, that last thing on your mind is having to deal with an unexpected medical emergency. You realize that while you signed all of the paperwork in HR at your new job, you didn’t really read it and follow instructions to find a local doctor, determine the nearest hospital or urgent care that takes your insurance or even locate a pharmacy.
This common scenario can derail your relocation experience and make navigating an emergency even more difficult.
Follow this guide for locating the necessary emergency services ahead of time:
- Dedicate a few hours to locating a nearby urgent care to deal with minor issues. Ask neighbors, school teachers, and co-workers for recommendations.
- Urgent care facilities often are open on the weekend or later hours to care for simple infections and respiratory illnesses like a cold or flu, scrapes and bruises, sprains and other minor issues that need immediate attention but not hospitalization.
- Find the nearest 24-hour pharmacy. Call ahead to make certain they take your prescription coverage.
- Find the nearest hospital that has a trauma-level 24-hour emergency room and that takes your insurance.
- Be sure to locate an emergency dentist too. A dentist specializing in emergency care may be able to save a broken or knocked out tooth while waiting to get into your regular dentist might be too late.
Learn directions to these locations from your home, your work and your children’s schools. Drive by each location to become familiar with the proper entrances for emergencies. Keep the addresses and phone numbers of these locations in your contacts. List them by “pharmacy,” “urgent care,” or “hospital” along with the business name, since during an actual emergency you may not be able to recall the business name. Keep a printed or hand-written list on your refrigerator or another visible location in your home for older children or childminders.
Pets have emergencies too. Not all pet hospitals handle emergencies, so locate the nearest one to you and find a veterinarian that has a nearby clinic or makes house calls.
If it is possible your child or pet has ingested something poisonous, memorize the number for the American Association of Poison Control Centers: 1-800-222-1222.
Put this number in your phone and post it on your refrigerator. Be sure to share it with babysitters and pet-minders.
For assistance locating other emergency services in your neighborhood, talk to your real estate professional for recommendations.