So, you've decided to take the plunge and commit to buying a home! Next question, where do you start? The reality is that buying a home is a complex process that is both exciting and stressful, and whether you are a first time buyer, or it's not your first time, there are a lot of questions to be answered and things to consider.
One of the first things you should do is not the most exciting, but it's a piece of cake! Reach out to your local bank, or find a good mortgage lender, to get a mortgage pre-approval. Do not be intimidated by this process! Your lender will ask you some basic questions to get a picture of your financial situation, and they should be able to give you a mortgage pre-approval the same business day. Additionally your lender can provide a breakdown of expenses so you can get a clearer picture of what your monthly expenses will look like based on the price range you are shopping in.
The benefit here is that you will have an idea of not only what you can afford, but how much you really want to spend, so that when you find that perfect house you will have the confidence that it's not only the right fit for you and your family, but also for your wallet!
If you also need to sell your property prior to buying, you should contact a local real estate professional and have them review a Comparative Market Analysis, or CMA, with you so that you can understand the likely price range your home will sell for.
For more information on this process, or any other real estate question, please don't hesitate to reach out to me at jaysellsre83@gmail.com. Looking forward to hearing from you!
