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  • Writer's pictureRebecca Richardson - Mortgage Consultant

Want to Buy a Home this Summer? Here are Some Things to Consider

Summer is just around the bend, and with the scorching season comes the peak season for real estate! I always like to highlight that one of the most important parts of the homebuying process is your preparedness. So, if you want to buy a home this summer, here are a few tips to help you prep and some things to keep in mind as you shop around.

Steps to Take to Buy a Home

Like I said, one of the most important aspects of a stress-free homebuying process is coming in prepared. And what better time to start preparing than the present? With a few months until purchase season, here are the most important things you can do to prepare to buy your home:

  • Focus on your credit score: A good credit score is a cornerstone for getting a better rate. The sooner you start working on your credit score, the better your score will be by the time you’re ready to buy!

  • Talk with a lender: A simple pre-approval will give you a better understanding of what you can afford as you begin your homebuying journey. An initial conversation costs nothing but can have a hugely positive impact down the line.

  • Contact a Realtor: Having an experienced real estate agent in your corner is just as important as an important lender when shopping around. They’ll have a comprehensive understanding of your local market and will be able to send you listings before they hit the market.

  • Boost your savings: Between your down payment, closing costs, and other fees due on your closing date, you’ll need to have plenty of cash on hand when you’re buying your home. As you prepare to start your homebuying process, be sure to set aside as much money as possible to cover these costs and any unexpected costs that may arise after you move in.

By taking those four simple steps, you’ll ensure that you’re prepared and well-informed by the time you’re ready to submit an offer on your home.

Your Starter Home Can Help You Buy Your Dream Home

When you’re shopping for your dream home, it can be discouraging to see that the perfect house is outside of your budget. But don’t get discouraged.

A starter home might not have all the bells and whistles that you’re looking for, but it can help set you up to upgrade in the future. By investing in a starter home, you’ll start building wealth through home price appreciation and equity accumulated as you pay your mortgage.

It can feel like a challenge to make that first home the one of your dreams. However, regardless of what you buy today, it most likely won’t be your forever home. Rather, the wealth that you build through your starter home will pave the way to help you buy the home of your dreams!

Consider Your Non-Negotiables for Your Home

Buying a home can often be an exercise in compromise. You might have an idea of what your perfect house looks like in your head, but when you see the real-life version, it will likely be missing a few of the things you had on your wish list. When you’re starting to look at homes, it’s important to create a list of non-negotiables to help you narrow your search.

Anything too expensive or undesirable to change should be on that non-negotiables list. This could include the size of the yard, layout of the house, or even the location.

On the flip side, things like paint colors, carpet, or other minor cosmetic aspects can always be handled without too much sweat equity and cash out of your pocket. So remember, when you’re house hunting, think of your non-negotiables instead of sweating the smaller stuff.

As always, working with a lender who you trust is crucial to buy a house that works best for your individual financial situation. I’ve helped countless homebuyers purchase their first home and would love to help you on your journey. If you want to get started, contact a member of my team and let’s get started!

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