Ready to buy a house? Not so fast. Before you start looking for a home, there are certain things you’ll need to do to ensure the process goes as smoothly (and successfully!) as possible.
So what, exactly, are those things?
A recent article from realtor.com outlined key things potential buyers need to check off their to-do list before starting their home search, including:
- Understand the financials. It’s important to understand the financial elements of buying a home before you start your search; that way, you can get an idea of the potential costs, and figure out how much home you can afford. This includes creating a budget, reviewing your credit score, and researching current mortgage rates. You should also get pre-approved for a mortgage so you know how much you’ll have to spend, and can target homes in the right price range.
- Save for a down payment. Most traditional loans require anywhere between 5 percent and 20 percent of a home’s purchase price as a down payment. So, before you start looking, you’ll want to have a substantial amount of money in your savings account to put towards your down payment.
- Interview multiple real estate agents. Your real estate agent will play a critical role in your home search, so it’s important to find the right agent. Before you start your home search, interview multiple agents (at least three is a good target) to find the agent with the right background, experience, and personality for you.