If you’re thinking about buying a home in 2019, it’s time to start the process now. There are several things that you should be doing right now to get ready to buy a home in 2019:
1. Check your credit score. There can be surprises that you might not even be aware of on your credit report. It’s a great idea to catch anything that might come up now so you can remedy it in time to buy.
2. Don’t open any new credit cards and ask for financial gifts this year. This will ensure that you will have a bit of a buffer to buy anything new for your home or take care of closing costs.
3. Interview potential real estate agents. An experienced agent has a really good idea of what you’re looking for in an agent and how to make the process perfect for you. At the same time, we’re not mind-readers, so it’s great to know if there’s anything specific you are looking for in an agent to make sure they can deliver on what’s important to you.
4. Keep tabs on interest rates. For every 1% that interest rates go up, buyers’ affordability goes down by 10%. Changing interest rates can have a huge impact on what kind of home you’re looking for.
5. Look into local lenders to provide your mortgage. Some of our clients finance with big banks like Chase or Bank of America. While the process can go smoothly with these national lenders, they very often aren’t able to make the closing date on time, which is very important. A great agent can make some super recommendations on local lenders to work with.
6. Have a pre-approval letter prepared by your lender. Sellers often won’t accept an offer without one. It’s important to have one on hand before you start looking for a home.
If you have any questions about how to prepare to buy a home in 2019 or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.