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Three Steps to Prepare You for Buying a House

a young couple looking at a computer as they plan on buying a houseIf you think you are ready for buying a house there are obviously things you will want to do to prepare. Setting a budget and thinking about zipcode are both part of that extensive list. At The Brian Burds Home Selling Team we have a to do list to help you prepare for buying a house.

Set a Budget

The first and most obvious thing you will want to do is set a budget. You will want to have firm understanding of your current income and expenses. This is the best way to know what you are prepared to pay when it comes to a monthly mortgage. Remember that this amount will include property tax as well. When you are budgeting there is more than just a mortgage bill you have to think about. If will want to consider new appliances, furnishings, moving costs, homeowners insurance, and a monthly budget for unexpected repairs. You won’t have a landlord any longer to take care of repairs for you.

If you are still several months out you will want to do everything you can to improve your credit score. Lenders only give good interest rates to those with a score of 700 or above. They will scrutinize all your paperwork to include your income, liabilities, debts, to make sure you aren’t exceeding the maximum debt-to-income ratio.

Look for the Right Neighborhood

Considering this is going to be the biggest investment of your life, you want to make the choice carefully. You need to make a list of areas you like and consider why you like them. A lot of young couples like to be near pedestrian friendly areas where they can walk to local hot spots. Here in El Paso that would probably be downtown or the west side. If you have a family you are more than likely thinking about schools as a priority. You can research school ratings or even try to stick to your own neighborhood if you don’t want to uproot your kids from their schools.

When you are in the process of considering a neighborhood you will want to think about what you want in a home. Storage space, number of rooms, size of the yard, one or two story, a garage, are all considerations that you will want to think about and prioritize.

Find a Realtor Who Can Help You When Buying a House

At the Brian Burds Home Selling Team we can help with this step of the process. We use technology and our marketing skills to match home buyers with the right house for their needs and budget. We have a database of over 5,000 homes that we are constantly adding to. Whether you are buying a house or selling a home we are the experts that you can trust. Contact us today for more info.

 

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