Preparing for your 2017 home purchase

Real Estate Agent with Grand Lux Realty, 914-419-0270, 10301213186

Are you thinking of purchasing a new home in 2017? Have you been looking online at houses for sale? Are you picking out the style and price range you'd like? If yes, this is a perfect point to get prepared to accomplish your dream as soon as possible. It is time to jump into the "real" process of preparing to buy a house.

There are four major things to think about before you are truly out there house hunting.

Credit scores.

Preparing for your 2017 home purchaseCredit scores are one of the major components that determine what type of loan you can utilize, how much you will need as a down payment, and what you can afford on a monthly basis. Obviously, the higher your credit score the better. If you haven't already pulled a credit report, you should do that immediately. You can request credit scores directly from the three credit bureaus (TransUnion, Equifax, and Experian) although there may be a charge to do so. You are also entitled to a once-a-year free report from Annual Credit Report  website. Another option is to contact your bank or mortgage broker and request that they pull your credit information.

You are going to need not only the score but also all the details behind it. This will help you to understand what might be needed to improve your numbers. Perhaps there are items on your report which are there in error. There may be a bill you paid that is showing up as not paid. Whatever the case, it may take some time to improve your scores, so getting a jump on this activity is important!

Mortgage Pre-Approval 

A linked activity is to get your mortgage pre-approval process underway. Most real estate professionals will require a pre-approval in hand prior to viewing houses. There are several reasons for this. First, if you find a house you want on your first outing, you need to be ready to put in an offer, and offers must be submitted with that pre-approval. Also, you don't want to waste time looking at homes you really cannot purchase. Falling in love with a home that is just impossible to own could be quite upsetting. Finally, selecting the right mortgage broker is a process as well. You want to make sure you are working with someone who will be proactive, responsive, and knows their stuff!

Meeting with a mortgage professional now, before you are ready to house shop is also important because there may be things you need to do so the process moves smoothly. For example, if you are relying on a gift from a relative to help with the downpayment, there may be rules about how long it needs to be in the account or what kind of proof you will need of the source of the money. You will want to know all the details as far in advance as possible so you are fully prepared.

Screen Shot 2016-05-10 at 11.42.10 AMSave money

Now is also the time to put away any money you can so you'll be ready to go. Especially in New York, the home buying process can be costly. In addition to any mortgage required down payments, there are mortgage fees, title fees, property tax escrows, and more. A buyer should also do a home inspection prior to purchasing, and that adds more cost. And having some money in savings AFTER closing is important for all the things you want to improve, or the new furniture you wish to purchase. So save money BEFORE you are involved in the nitty gritty of home purchasing.

Select your Real Estate Professional

A buyer agent does not cost you money, but it ensures there is a professional on your side throughout the entire home purchase transaction. Not just to help you find the right house, but to get you through the contract, mortgage, inspection, appraisal, and other steps in the process. That agent needs to be by your side all the way until closing. And buyer agents are not all the same. You should select a few possible agents, conduct your interviews, and decide who you would like to work with. That person can start sending you possible listings so you can get a great handle on the specifics of where and what you want to buy.

Those are my tips for getting prepared for a 2017 home purchase. And of course, if you are planning to purchase in the Monroe NY or Orange County NY area, I'd be happy to assist you in any way. You can call me at 914-419-0270 or email me at


Originally published at

Posted by


Kat Palmiotti, The House Kat

Licensed Associate Broker, CBR®

Grand Lux Realty, Inc.

428 Main Street

Armonk, NY 10504 *

* still supporting Monroe NY, Orange & Rockland counties.


914-419-0270 (cell)


facebook    Kat's Homes


Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 01/01/2017 11:40 PM
Home Buying

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Alysha Hoogestraat
Alysha Hoogestraat - Langford, BC
Real estate copywriter here to help WOW clients!

Great tips Kat. All the best for many clients in 2017!

Dec 24, 2016 09:30 AM #3
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

All I can say is ... Yes! Yes! Yes! ... each point is perfectly made, Kat Palmiotti.  You provide a clear and easily followed road map to homebuying success ...


Dec 24, 2016 10:03 AM #4
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Excellent advice for anyone considering a home purchase for the coming year.  

Have a wonderful Christmas.

Dec 24, 2016 04:32 PM #5
Kat Palmiotti
Grand Lux Realty, 914-419-0270, - Monroe, NY
The House Kat

Harry - Thank you, I appreciate that.

Nick/Trudy - Thank you! I'm ready to help!

Alysha - I wish the same for you!

Gene - Thank you! Preparation is key!

Gabe - I wish you a wonderful Christmas also.

Dec 24, 2016 05:01 PM #6
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

There is a process to getting out as a home buyer and your post shows that all the key elements need to be addressed.  Hope 2017 is a banner year for you.

Dec 24, 2016 05:23 PM #7
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat excellent points and hope the buyer's are reading this great advice. Hope you had a Merry Christmas, Endre

Dec 25, 2016 08:23 PM #8
Kat Palmiotti
Grand Lux Realty, 914-419-0270, - Monroe, NY
The House Kat

Ed - I hope 2017 is a banner year for you as well!

Endre - Thank you for your comment. I hope your Christmas was wonderful as well!

Dec 26, 2016 04:24 AM #9
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Kat - hopefully you will meet many in 2017 that will follow the process through to completion.

Dec 26, 2016 06:33 AM #10
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Kat, Where is that suggestion button we use to have for features, this one is a keeper.  Thank You!


Dec 26, 2016 08:22 AM #11
Kat Palmiotti
Grand Lux Realty, 914-419-0270, - Monroe, NY
The House Kat

Grant - Hopefully!

Will - Thanks for your kind words. That feature is no longer!

Dec 26, 2016 04:43 PM #12
Patricia Feager
Selling Homes Changing Lives

Kat Palmiotti - These are all great tips for prospective buyers and sellers! Those doing both will especially appreciate that they are in great hands with you!

Wishing you and all your clients a very Happy New Year!!!

Dec 29, 2016 09:35 AM #13
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is very good reading for prospective home buyers.

Best wishes to you and your family for a Very Happy New Year!

Dec 31, 2016 04:48 AM #14
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

A good list to follow before buying a home. Be ready!

Dec 31, 2016 04:56 AM #15
Kat Palmiotti
Grand Lux Realty, 914-419-0270, - Monroe, NY
The House Kat

Patricia - I wish you a wonderful New Year as well!

Roy - And the same to you!

Larry/Sheila - I'm ready!

Dec 31, 2016 05:08 AM #16
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Hi Kat, this is great advice for anyone thinking of buying a house in 2017, thanks for sharing.

Jan 01, 2017 03:49 PM #17
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Kat Palmiotti saw this on a reblog from Gabe.... great direction for those who will be purchasing.... hope they all see this post...

Jan 02, 2017 02:58 AM #18
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

Buying a home is a planned process.  Starting with the right agent and and mortgage lender is key!

Jan 02, 2017 03:37 AM #19
Kat Palmiotti
Grand Lux Realty, 914-419-0270, - Monroe, NY
The House Kat

Sybil - Thank you!

Barbara - Thank you! 

Gary - Yes, the right agent and mortage lender is the place to start.

Jan 02, 2017 04:33 AM #20
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Saw Gabe's reblog of this post. Very good advice for those getting ready to buy a home. Prepare first and then there will be a smooth transaction. 

Jan 02, 2017 09:23 AM #21
Kat Palmiotti
Grand Lux Realty, 914-419-0270, - Monroe, NY
The House Kat

Karen - Thanks for stopping by and commenting!

Jan 05, 2017 03:11 AM #22
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