New Year, New Home? Is A New Home Your 2024 Resolution?

Real Estate Agent with Coldwell Banker Realty 179530




"To own a home is to build a tangible dream."

... Unknown


A new year always seems to get people thinking about taking a fresh look at their goals... from health and careers to relationships and finances. If one of your resolutions for 2024 is to buy a home, this is the year you make three more resolutions to make a home purchase happen: (1) improve your credit score, (2) pay down some debt, (3) save for a down payment to make that resolution come true.    


2024 Home Buying Resolution #1:

Qualify For A Better Mortgage Rate With A Higher Credit Score


Check Your Credit Report When Buying A HomeYour credit report highlights your current debt, bill-paying history, and other key financial information. Importantly for your home-buying journey, it is also used by lenders and companies to calculate your credit score, which partly determines if you are qualified to obtain a mortgage. So, before you start house-hunting, make sure your finances are in the best possible shape by checking your credit report from Equifax, Experian, and TransUnion (via You can also obtain your credit score for free from some banks and credit card companies.  


Credit ScoresYour credit score will be a number ranging from 300-850. Generally speaking, a credit score of 740 or higher is considered very good to excellent. If your FICO score drops below 740, you might need to work at boosting your score for a few months before you begin house-hunting. Ways to do this are to pay your bills on time every month, keep your credit card balances low, and avoid applying for new credit. Get Ready To Buy A Home By Improving Your Credit Score.  


“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.”

... Marshall Field



2024 Home Buying Resolution #2:

Improve Your Credit Health By Paying Down Debt  


What impacts your credit score when buying a homeDo you have student loans, credit card debt, or car payments tying up your income each month? That debt is hurting your “buying power,” or the amount of home you can afford. Not only is it money that you can't spend on your new home, but your debt-to-income ratio also affects your credit score, which was noted in Resolution #1.


The less debt you have, the higher your FICO score and the better mortgage you can obtain.   If you can, pay off some debt in its entiretylike a low balance on a credit card. Then apply that "extra" money you previously paid on that credit card to pay off bigger debt, like a car loan. Even if you can’t pay off all (or any) of your debt in full, reducing the balances of each account will help you qualify for the best possible mortgage terms.  3 Keys To Hitting Your Homeownership Goals This Year.


“90% of all millionaires become so through owning real estate.”

... Andrew Carnegie



2024 Home Buying Resolution #3:

Create A Financial Plan & Safety Net Before Applying For A Mortgage   


Don’t forget that buying a home requires some cash reserves, as well. A down payment is typically 3.5%-20% of a home’s purchase price, and closing costs can exceed $5,000. You’ll also need money for moving expenses and any initial maintenance tasks that might pop up once you've purchased a home.


Financial Plan Crucial To Affording A HomeYou never know when an unforeseen event might cause a job loss, drop in income, or health scare, so having some liquid savings will ensure that you can still pay your mortgage if a crisis occurs.   Dedicate some effort to building up your reserves. Cut down on unnecessary expenses, and consider having a portion of each paycheck automatically deposited into your savings account to avoid the temptation to spend it.  


“Owning a home is a keystone of wealth…both financial affluence and emotional security.”

... Suze Orman


Let Nina Hollander Help You With Your 2024 Home Ownership Resolution


You Need Help To Keep Your New Year Resolutions


Without a plan and a support system, 55% of Americans will break their new year’s resolutions.  It helps to connect with a trusted real estate agent to keep you motivated and on track.  


As local market experts, we have the knowledge, experience, and networks to help you achieve your homeownership goals, whatever they may be. Reach out to me today for a free consultation and commit to keeping your resolution to buy a new home in 2024.


Nina Hollander with Coldwell Banker Realty has been opening doors for Greater Charlotte area home buyers for 25 years. If your 2024 resolution is to buy a home in the Greater Charlotte area this year, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:

 "The Right Broker Makes All The Difference."


Posted by


 Nina Hollander, RE/MAX Broker, Realtor




Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.


Comments (16)

Roy Kelley
Retired - Gaithersburg, MD

Home buyers and home sellers are in very good hands when they seek your professional real estate advice and assistance.

Have a productive 2024!

Jan 02, 2024 05:14 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Nina Hollander, Broker, what's better than purchasing a new home in the new year? I hope 2024 will be a great year for you personally and professionally.

Jan 02, 2024 05:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thank you, Roy... I always like to think positively... so I'm thinking that 2024 will be a most excellent year for me. And I hope it will be for you, as well.

Jan 02, 2024 05:33 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Beth Atalay right back at you, my friend! I've been meaning to tell you that Les Rinehart passed away a few months ago from liver cancer. Just so sad.

Jan 02, 2024 05:34 AM
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 and Home Specialists

If a new home is right for you in Charlotte, then you MUST connect with Nina Hollander for the best representation. Call her!

Jan 02, 2024 05:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Sheila, and thanks for that shout-out. I can say the same... anyone on Long Island who might be looking to buy a home in 2024, should make their first call to Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 

Jan 02, 2024 05:50 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Our inventory is still so tight that the dream to buy is still forefront on the minds of so many. They look to the new year with hope. Good fortune to you in the new year.

Jan 02, 2024 06:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva, 203-206-0754 good morning, Ed... quite the same situation here in the Greater Charlotte area, especially for anyone looking under $400K. 

Jan 02, 2024 08:24 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- these are excellent suggestions!  For buyers who want to purchase a home in 2024, you've given them what they need to take the first steps. 

Jan 02, 2024 01:07 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina a new home in 2024 would be an EXCELLENT resolution to start off the year with.

Jan 02, 2024 01:21 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib thanks, Kathy... of course, there's nothing new under the sun in terms of my advice. Those basic steps stay the same year after year.

Jan 02, 2024 01:36 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... I had a feeling that many people who may have had that resolution in 2023 didn't manage to keep it... so it was time to set them up for 2024.

Jan 02, 2024 01:38 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I loved your post Nina Hollander, Broker  and the interaction with our friend George Souto 

Jan 02, 2024 09:40 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. good morning, Endre, and thank you. At the end of the day, the interaction here is all that's left of "fun" in the Rain.

Jan 03, 2024 04:12 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It seems that people have more fun breaking resolutions than making them, haha.

Jan 03, 2024 04:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England good morning, Brian... I suspect some people have fun breaking resolutions, but I suspect more of them feel guilty for doing so... which is probably why they make the same resolutions year after year.

Jan 03, 2024 04:43 AM