Whether you are thinking about buying a house, or already out there actively looking, there are 3 all-important questions to ask yourself before you make the move.
What are my “musts”? These must-haves should be your top-priorities. They include things like a certain number of bedrooms, a specific school district or even something like a pool. These are items that are not up for negotation, and homes that do not meet this criteria should easily be scratched off the list. To maximize options, limit your “must” list to things that can’t easily be changed after purchase; for example, you can’t change a home’s location but you can easily change its flooring.
How long do I plan to stay? Consider various life factors that might come into play – things such as a growing family or job relocation. The answer to this question will help you determine if it’s a good time to buy, and if so, what size home you may need.
How’s my credit? If you are planning to take out a mortgage, you credit score is a crucial factor in determining what kind of rate you might receive and also how much money a lender will be willing to lend you. You can get a free copy of your credit report annually from TransUnion, Equifax and Experian. Look over these reports carefully to make sure everything is correct. This is also will help you in deciding if you need to build your credit before buying. If you have additional questions on building your credit, see my previous article on easy credit building or give me a call!