It’s a Buyer’s Market

If you are thinking of buying a home there are a few things you can do to prepare for one of life’s biggest investments.

It’s important to make sure that your credit and finances are in good order. By law major credit reporting bureaus must provide you with a free copy of your credit report once a year. Make sure that you know and understand you credit score and how it impacts your ability to borrow money. Also, consider your credit card debt, a high amount of credit card debt may lower the amount a mortgage lender may be willing to give you to purchase your home, so work to pay down excessive debt.

Know how much you realistically afford to spend on your new home. Work with a lender who will look at your income, debt, assets and liabilities and provide you with the amount that you can afford to spend on your new home. Knowing your actual spending capabilities will help you to focus on those properties within your financial comfort range and avoid spending time looking at properties that are financially beyond your reach.

Choosing a good Realtor is one of the main ingredients to a successful property search. A Realtor with a user-friendly Web site, one that lists property photos, neighborhood background, community amenities and school information will make your property search easy and fun. Communication is also a key factor where your Realtor is involved. A Realtor who is accessible and in touch with your priorities can make the search for your new home and the actual buying process enjoyable.

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