Walking toward home ownership

There are some folks that feel that the road to purchasing a home is an easy one. The reality is... it might be easy on paper, but usually isn't so clean and tidy in real life. For many it's the struggle of cleaning up debt, managing and saving a down payment, and timing it all between life circumstances.

So... the question is... what do you do first?

Do you save for a down payment, pay down your debt and clean up your credit, start looking and see what you want to buy, talk to a lender????? When is it appropriate to start looking at houses? And, from start to finish how long will it take?

These are not answers that are clear cut for everyone. For each person and family the road to home ownership will look different from the next.

By basic principle you need to have some money in the bank to start the process. If for nothing else.. for peace of mind. It is relatively "cheap" to get into a house right now, but there are some costs that do need to be covered. If you have it in hand before starting the process you'll be way ahead of the ball game. There are costs for earnest money, down payment, closing costs, inspections and home warranties. The numbers for those will vary so you'll either want to talk to a Realtor <me> and we can discuss ball park figures OR you can talk to a lender to find out a closer range of what you'll be needing for cash up front.

Credit and debt are huge factors in our marketplace today. If they aren't stellar you might need to take a timeout and work on them. The BEST way to know is to talk to your mortgage lender <call me if you don't have one> and find out what you need to do to make it into the qualifying ranks. They are a great first base to help you on your way to home ownership.

If you have your money and your credit in order then it's easy peasy from there. Usually. It's about finding a house, making sure it's the right fit and throwing yourself into the game.

At any point during this process it is right to talk to a Realtor. I love setting up searches for my buyer clients early on. The earlier that you start watching the market the better you know what you are looking at when the time is right. Once you have a 'clear to buy' from your mortgage lender then it's time to start the showings. But, a little dreaming never hurt - it's what keeps the goal in front of us.

If you are planning on buying a home in Minnesota this year please take the time to contact me. I am here to help you walk through the process from the very beginning. We can chat via the web, phone, text or have a sit down down conversation and walk through the process together. Just let me know!